GILBERT & GILBERT Real Estate Services
September 5th, 2010 
Doug & Krista GILBERT
Direct Phone: 604-618-6736

RE/MAX - treeland
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INTEREST RATES ON THE RISE!!
Tuesday, 27 April 2010, 05:33:20 PM
Two of the major banks (Royal & T.D. Canada Trust) have increased their fixed terms rates again. We expect the others to follow along tomorrow. This is the third rate increase in the last month and it is not expected to be over just yet. Think about this . . . 3 -4 weeks ago a five year term could be signed at 3.69% and now we are informed the best rate will be 4.79%. Yes, this will impact a segment of the buyers . . . mainly 1st timers and those who are squeezing everything to make it happen.

Let's put it in perspective though . . . a five year rate at under 5% is still a heck of a good rate and if looking at historical rates, these current rates will still make homes affordable. The best advice we can give is to contact your mortgage broker or bank manager and secure the best rates and terms available to you. It costs nothing and could save thousands.

If you are not sure about the timing of buying or selling, call the professionals that can answer your questions. Mortgage Brokers, Realtors, accountants are all trained and if they have the experience, should be able to provide you with knowledgable answers. This is turn should help you in deciding what is best for your position. Call if we can help.
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Comments (1):

Anonymous wrote:
Tuesday, 27 April 2010, 06:00:47 PM  |  Reply
How much more can the rates jump?
Is there a longer term idea on where the rates will end up? With HST around the corner, maybe it would be better to sell and buy now before it costs too much.
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