RATE BULLETIN! 5yr Fixed @ 3.64%! / Variable @ 1.85% (Prime -.40%)

90 Day Rate-Hold available. Call John now for more information!

(604) 710-1500

RATE BULLETIN! 5yr Fixed @ 3.69% / Variable @ 1.90% (Prime -.35%)!

Call John now for more information and to hold on to these great rates! (604) 710-1500

Bank of Canada keeps rates the same… Again.

Once again, the Bank of Canada announced it would keep the key interest rate at a record-low 0.25 per cent to achieve its inflation target of two per cent.

While the Bank said economic growth in Canada resumed in the third quarter of 2009 and there has been a slightly higher than expected rate of inflation in recent months, it reiterated that the economy is still lagging, particularly due to factors like a strong Canadian dollar and low levels of U.S. demand.

Repeating many of the same projections as its October monetary policy report, the Bank predicted the economy to return to full capacity and reach a two per cent inflation rate in the third quarter of 2011. It forecast the economy to grow by 2.9 per cent in 2010 and 3.5 per cent in 2011.

The next Monetary Policy Report will be released Friday and the next rate announcement will be made March 2.

REVISED RATE BULLETIN!

AS OF TODAY:  VARIABLE RATE @ 1.95% (Prime -.30%)

Call John @ (604) 710-1500!

RATE BULLETIN! 5yr Fixed Rate @ 3.79% / 5yr Variable @ 2.00%

SMART PLANNING NOW WILL SAVE YOU $$$

If you’re currently in a Variable Rate mortgage and are considering converting to a Fixed product… STOP! I may be able to:

1. Pay out your penalty.
2. Get you a brand new 5 yr+ Product. (If you have 2-3 years left on your mortgage, do you really want to renew your mortgage when rates could potentially be a lot higher in a few years?)
3. Get an interest rate that is much lower than the conversion rate within your current mortgage; saving you thousands.
   

The time to ask these pertinent questions is right now.  We are seeing some of the lowest rates in Canadian mortgage history.  Why not take advantage of what many are calling the “bottom” of interest rates?  I can help you plan your long-term goals while taking advantage of these savings.  It’s smart-planning and free to boot!  Call now!

Bond Market fluctuates – Rates may go up soon!

Today we saw a rise in the bond market.  Some lenders have reacted by raising their Fixed rates, although it seems some are holding off for the time being.  What does this mean to you?  Enjoy the holiday season, but stay tuned for more information.  Anyone on the fence should be contacting me immediately to hold these historically low rates for 120 days.  Happy Holidays!

Bank of Canada leave overnight rate unchanged

As widely expected, the Bank of Canada held the target for overnight rate at 0.25%, and reiterated its commitment to keep rates at their effective lower bound through the second quarter of 2010.  The Bank recognized that while the global economic landscape has been slightly more positive, there are a significant amount of ‘fragilities’ still out there; enough to justify keeping rates where they are.  More than likely, the Bank of Canada will stay put past its conditional commitment of June 2010 and the first rate hike will not come until the fourth quarter of next year.