29 march 2010

In the latest quarter Royal Bank of Canada has approved mortgage for about $148.5 billion. The bank announced this Monday that it’s raising the posted rate on three-year closed fixed-rate to 4.35%, the four-year – to 5.34%, and the five-year closed rate – to 5.85%.
We’ve been discussing the fixed rate hike for weeks. Today bond market opens at the highest level lately seen.
IF YOU ARE WORRIED ABOUT RATE RISE ON YOUR VARIABLE RATE MORTGAE LATER THIS YEAR – YOU MAY CONSIDER TO LOCK INTO FIXED.
IT’S A LAST CHANCE TO GET HISTORICALLY LOW FIXED RATES OR RESERVE THEM (GET PRE-APPROVAL) FOR UP TO 6 MONTHS!