Short term Canada mortgage rates move up sharply

Author Message
Icon Mini Profile Jessica
Jessica
Community Mentor
Community Mentor


Joined: 08 Jun 2004

Posts: 814
Location: OHIO
195.97 Dollars($)
PostPosted: Thu Mar 09, 2006 2:48 am    Post subject: Short term Canada mortgage rates move up sharply

Hi,

It's disappointing news for home seekers in Canada.

Some of the biggest banks all over the globe have boosted up the borrowing cost by one-fifth of a percentage point. This has affected short term mortgage rates in Canada.

The Royal Bank of Canada has raised 6 month open mortgage rates by 0.2 percentage point to 7.85%. But the 3 year closed mortgage rates have gone up by 0.1% to 6.2%.

The sudden rise in short term rates is likely to create an inflation pressure thereby pushing up the interest rates in the bond market.

Let's hope that buyers and others don't come across much trouble with the rates moving upward.

Regards,

Jessica.

_________________
http://jessica.mortgagefit.com/
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help
MF Talk

We have chosen to apply the Creative Commons Attribution License to all works we publish.
This work is licensed under cc by 2.0