Are Fixed Rates going up?…. March 8th, 2010
Fixed mortgage rates should tick higher this week–barring any economic surprises.
That’s because Canada’s 5 year band yield rate is up 18 basis points today, the most in almost five months. (Bond yields guide fixed-rate mortgage pricing.)
Some say the jump in yields is, thanks to stronger-than-forecast U.S employment data, a new June maturity as the 5-year benchmark, asset rotation into stocks, and the 20% increase in debt issuance announced in yesterday’s budget.
If you’re considering a fixed-mortgage rate hold, it may be wise to lock it in by Monday, March 8th… That should secure your rate for 120 days.
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Sidebar: We have to wait another week for Canadian employment data. Usually it comes out the same day as U.S. data, but not this week.
About the author
I am Michael Mullis, The Mortgage Teacher. I provide in depth knowledge, ideas and advice for people looking to produce their ultimate mortgage plan. Get an A+ mortgage with The Mortgage Teacher...
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about 1 year ago - No comments
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about 2 years ago - No comments
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Great Question Shawn.. this is exactly what most Canadians seem to be asking too….. The good news is “probably”…. But please let me explain why,you want to look MUCH deeper into your numbers and MAKE SURE…. (Well with your Mortgage Teacher of course). One of the key numbers is your total payout?…. Sometimes we have
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about 3 years ago - 1 comment
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about 3 years ago - 1 comment
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about 1 year ago
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about 1 year ago
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