Bond Yields Jump Again The 5-year government bond rocketed to 2.71% today. Various lenders have already issued fresh new fixed rate increases. More may follow tomorrow if yields don’t retrace.
Two-year bond yields also broke to the upside. That may lead to upcoming rate increases on shorter-term mortgages, which have been insulated from rate hikes for several months.
If you’re shopping for a fixed mortgage, be safe and get your application in soon.
Categories: Canadain Mortgage · Mortgage Rates
Tagged: Banking, bond rates, Canadian Bond Rates, Canadian Mortgage changes, TD Canada Trust Mortgage
Low interest rates mean low mortgage payments, a combination that is bringing buyers back to the market, agent Keith Roy says.
“Most people don’t care about the price of the home as much as they care about the monthly payment for owning the home,” he says.
“With interest rates at historic lows and prices down year over year, first-time buyers and renters are returning to the market.”
The suite sold to a first-time buyer after the first open house.
While the unit is small, the new owners were “attracted by the modern design and steel construction” of the five-year-old building, Mr. Roy says.
The bachelor suite also has reclaimed fir floors, a gas fireplace and stainless steel appliances. “Even though it is only 470 square feet, this unit is well laid out and has a separate area for the bed, a walk-in closet and large soaking tub,” he says.
The loft-style apartment also has 10-foot ceilings, granite countertops and a balcony for barbecues.
Other amenities include ensuite laundry, an underground parking stall, a three- by six-foot storage locker and communal bike room.
A $136 monthly maintenance fee covers garbage pickup, gardening, hot water and the maintenance and use of an in-house fitness centre.
“You should not be fooled by size,” Mr. Roy says. “The new owners of this suite found true value and will pay less than $1,000 a month to own this home.”
Categories: Banking · Canadain Mortgage
Tagged: Banking, cheap mortgage, TD Canada Trust Mortgage
This might just be the video of the year. It is just amazing to witness how difficult it is to change the status quo, even with the facts on the wall!
Although Schiff’s solutions did not pan out any better, he certinly nailed the depth of the crisis.
Categories: Banking
Tagged: Banking, current economic climate
