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Fixed Interest Rate Hike

April 13th, 2010 · No Comments

RBC and Scotia surprisingly raised fixed rates further today, a mere two weeks since last spike.  Suspect others may follow.  Was a 1/4 point increase lifting popular 5 yr. fixed rate to 4.7% range with these lenders.  Still others available as low as 4.19% for same product in broker channel. 

 

Variable still a super low 1.75% on with 3 year term and some experts suggesting US difficulties may keep prime rate low for years to come since large jumps in Canadian Prime Rate would further strengthen Cdn $.   Will depend a lot on inflation. 

 

Contact Buyingblock for additional information and a personal mortgage analysis.

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