It was bound to happen….fixed mortgage rates will be on the rise over the next day or so. Increasing bond yields are reducing the profits of the banks and resulting in the need to increase mortgage rates. The days of 3.54% for a fixed mortgage are numbered and we will probably see rates rise above 4%. Get pre-approved today!

With most variable rate mortgages in Canada charging a premium over prime of .60% or more, is now a smart time to lock in to a variable rate mortgage for the next 5 years? Why not consider taking an open mortgage for the next year or so and wait for those premiums to come down.

A survey of British Columbia residents show 60% of respondents under 45 would be willing to give up mortgage pre-payment flexibility if it meant getting a lower interest rate. No Frills mortgages are an excellent way to get a lower mortgage rate by giving up some pre-payment ability. Most Canadians do not take advantage of their mortgages’ pre-payment option so why pay for it?

Canadian 5 year bond yields have been creeping up over the last few weeks which will likely result in mortgage rates in Canada increasing. Keep reading for a brief explanation of how bond yields affect your mortgage rate.

Great advice on planning your next mortgage to make sure it will set up your family for financial success and adapt with your needs for years to come……it’s not all about rate!