Bond yields continue to rise which is prompting more talk about further increases in mortgage rates. The 10 year rates are also starting to move but there are still several lenders offering 3.69% for 10 year terms. With 5 year terms now at 3.19% and rising, those 10 year rates are looking pretty good. Small premium to pay for the security of a 10 year term. If you are of the mind set that we will continue to see more volatility going forward, then perhaps those variable rates may come back into favour. Variables are currently being offered at prime less .40 on high ratio deals and prime less .35% on conventional deals. Prime is 3.00% as of today.
If you need help to sort through all this and find out what strategy is best for you, give us a call at Invis West Coast Mortgages. We are here to help.
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