Three weeks ago, Banks lowered their fixed rates after the Bond market dropped due to the Mid-east turmoil and the Japan Tsunami. Bond yields have gone up from 2.45% on March 16 to 2.77% today. That 32bps increase has prompted the Banks to raise rates. Fixed mortgage rates are affected by Bond Yields.
Variable rates remain unchanged. Not sure what’s best for you? Speak with a qualified Mortgage Broker to get some direction.
As an industry insider, Steve will share info that the BANKS don't want you to know. Steve has appeared on TV's Global Morning News, CBC's "Our Toronto" and The Real Life TV show. He's also been quoted in several newspapers such as the Globe and Mail, The Toronto Star, The Vancouver Sun, The Star Phoenix, etc.