Since the beginning of September, there bond yields have been moving up sharply putting upward pressure on fixed mortgage rates. If this trend continues, we could see increases to fixed mortgage rates by the end of next week, if not sooner. Currently, you can get a 5 year fixed mortgage as low as 2.74% or a 3 year as low as 2.49%.
For anyone who has a closing coming up in the next 120 days and you haven't locked in a rate yet, now is the time to do so.
You can follow the bond yields yourself by following this link. They were up another 2.16% today:
http://www.investing.com/rates-bonds/ca ... bond-yield_________________
Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.capaulm@citycan.comLic#10532
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