Mortgage Architects™

The Greg Nowik Team

Mortgage Planning since 1989

Serving the Lower Mainland: 604-878-0877
Serving Vancouver Island: 250-758-5524
Toll Free: 1-866-958-5524

Home | Privacy | Contact




Send Me an Email


read more testimonials

submit a testimonial





September 2010...A fresh opportunity to get your house in order!

In 2009, economists forecasted that interest rates would begin to rise in 2010. And right on schedule, in March, 5-year fixed rates started to climb, quickly rising from 3.75% to 4.75%. However, the trend quickly turned. Concern about a North American economic slowdown started to get stronger, and mortgage rates fell back to historically low levels.

 

Discounted 5-Year Fixed Mortgage Rates

        January - September 2010

 

Date

5-year rate

06/01

3.99%

20/01

3.99%

03/02

3.89%

17/02

3.89%

03/03

3.89%

17/03

3.75%

31/03

4.35%

14/04

4.35%

28/04

4.75%

12/05

4.60%

26/05

4.49%

09/06

4.49%

23/06

4.49%

07/07

4.29%

21/07

4.29%

04/08

4.29%

18/08

3.99%

01/09

3.89%

15/09

3.89%

22/09

3.89%


This chart reflects the Bank of Canada’s data series number V121764, which is reported weekly and is the mode of the posted 5-year fixed rates from each of the Big 6 banks, less 1.5%, which is typical of the highly discounted rates available at Mortgage Architects. 

 

While it’s impossible to predict when it will happen, it seems likely that we will eventually see rates rise to a more normal level of 5% to 6%. But right now, we’re well below that mark, which makes this a fresh opportunity to take advantage of a five-year fixed mortgage under 4% or in the low 4%’s, particularly if you need to refinance to take care of a burgeoning debt load.

 

If we haven’t done so in the last year, allow us to look at the specifics of your situation. The right mortgage plan can help you protect your equity and build your wealth. Get your plan in place now for the next five years.



 Return to News Articles

 
Mortgage Website by Roar Solutions Inc.    Tellem Email Marketing