Ebbs and flows of global economic news & reporting have analysts guessing as to what the future may hold with
regards to bond yields and rates.
Last week some were convinced that Greece would fall short of fiscal targets and were certain to default, yet this
week governments pledge efforts to avoid a default by any member nation. Most of the news from Europe has
overshadowed the relatively good US and Canadian economic data, mainly that the US will avoid a double dip
One thing seems for certain, low rates will remain the theme for some time to come. We have lost some
discounting on variable rate mortgages, yet fixed rates seem to be holding steady near historic lows.
For those of you in a Variable Rate Mortgage, BMO Capital Markets recently pushed their rate hike forecast
back to 2013, citing continued serious economic risks both home and abroad.
5 year fixed 3.29%
5 year variable Prime-.40% (or 2.60% today)
*rates are subject to change, and further discounted quick close rates may be available.
Please contact me directly to discuss your mortgage options today!
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