Keeping you updated on Mortgage Matters |
Market Comment
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V39060: Government of Canada marketable bonds, average yield, 3-5 year Low 06/01 /2012 1.01
Average 1/02/2012- 09/18/2012 1.32
High 04/25/2012 1.62
Bonds remained relatively steady this week. No changes expected in interest rates at this time.
Five year money is currently in the 3.09% - 3.19% range. We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.
If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.
Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.
Bank prime is 3.00%
The next meeting of the Bank of Canada is on October 23rd, 2012.
P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
....Anne
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Why cash rests in your home Sep 18, 2012 6:06 PM ET | Last Updated: Sep 19, 2012 1:53 PM ET
It's become the new retirement savings plan - owning a home. What else is one to make of a country where about half of Canadians said they didn't make a contribution to a registered retirement savings plan this year but close to 70% of households now own their home. "Your money grows tax free," says Jason Heath, a fee-based certified financial planner with Objective Financial Partners Inc. "Even in your RRSP, there are forced withdrawals and it's fully taxable [when taken out]."
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Click here to read the full article
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Historical Interest Rate Graphs
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Below you will find a feature which will give you current interest rate trends. It can also be accessed on our web site. I hope you and your clients find it useful..
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