Indications are that fixed rates may be on the rise...

It appears that fixed mortgage interest rates may be getting ready to move again --but upwards this time. As discussed in a previous blog here, fixed mortgage interest rates are tied to the Canadian Bond market --as compared to variable rate mortgages, which move with the Bank of Canada's key overnight lending rate.

With recent recovery in the bond market and stronger than expected real estate activity, some lenders have already begun raising their five year fixed rates. If you were waiting for the bottom to refinance, it is possible that you missed it. Still, mortgage lending rates are well below historical averages and still offer a tremendous opportunity for existing home owners to reduce their living expense, and to help potential home owners qualify for the purchase of a home.

If you want to learn more about fixed mortgage interest rates, or would like to get pre-qualified or discuss the possibility of refinancing, call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.

It looks like things might be getting ready to change

It appears that things may be on the verge of changing in the world of fixed mortgage interest rates. Below is some information about bond rates in Canada and their effect on fixed mortgage interest rates.

• Canadian 5 yr bond yields + .07bps to 2.09 - Four weeks ago it was 1.86. The spread today vs the 5 year rate is now down to 1.67%.
• http://www.financialpost.com/markets/market-data/money-yields-can_us.html?tmp=yields-can_us NEW LINK

The yield, rate of return on your bond, can be read through a yield curve, which is the pattern of yields on bonds. This increase in bond yield is something to watch. If the bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise!

For more information about interest rates, or to apply call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.

Secure your interest rate today and enjoy peace of mind knowing you have one of the lowest mortgage interest rates in Canadian history

Canadians can now get a 5 Year Fixed Rate Mortgage with an interest rate of 3.59%! For existing and potential homeowners looking to get a great rate on their mortgage, this may be the solution for you.

To learn more, get pre-approved, or get started --call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com/ today!.

*Subject to qualification criteria