Mortgage rates went down?

What’s this? RBC,  BMO and National Bank have lowered their posted fixed rates?  Yes, it’s true… the 5 year fixed rate is now 5.39%.  Bond rates have come down over the past few weeks after some concerns about the speed of the recovery.

These are posted branch rates…some banks advertise lower special rates of around 4.09%…. of course, there are even lower wholesale or discounted rates through the mortgage broker market…. speak to your mortgage broker to get current rates.

Variable rates aren’t expected to move anytime soon…  in fact, here’s one forecast for interest rates to remain flat for the entire year…. and I think this is very possible..  Happy Savings!!!