Low Mortgage Rates Good For First Time Buyers

On all the negative market news accumulated over the past month, Fixed Rate Mortgage interest rates have fallen by nearly one half of a percent. Considering that rates were already sitting nearing historic lows, this month's drop is creating an attractive opportunity for first time home buyers. With both interest rates and property values having dropped, buyers now have an opportunity to secure a mortgage with interest payments substantially lower than monthly rent for an equivalent --or even less than equivalent property.

For today's best rates, contact one of the qualified mortgage brokers at Alberta Mortgage at 780-479-2222 or Apply Online today.

Canadian Mortgage Bond Yeilds Jump --Possibly Resulting in Higher Fixed Mortgage Interest Rates

Mortgage Bond Yields have moved upwards by 0.30% since Monday, June 27th, 2011. With that increase in mind, it is possible that we will see financial institutions across the Country raise Fixed Mortgage Interest rates in conjunction to offset the increased cost of the mortgage money they are lending out.
As of this morning(July 4th, 2011), we've already seen the Royal Bank increase its 5 year posted rate by 0.15%(15 basis points) from 5.39% to 5.54%(source: money.canoe.ca). While RBC's increase does not necessarily mean all lenders will follow suit, the possibility of an across the board increase does exist --it may be a good time to get a rate hold in place through a mortgage broker near you.

To get a mortgage rate hold, call one of the qualified mortgage brokers at Alberta Mortgage at 780-479-2222, or visit www.albertamortgagecentre.com today.

Fixed Mortgage Interest Rates Dropping

Fixed Mortgage Interest rates have now fallen below where they were to start the year, and it appears that there may be further room to drop. With a slower than anticipated housing market, strong Canadian Dollar, low inflation, and dropping mortgage bond rates, mortgage lenders across the Country are competing for business --to the benefit of consumers.

Here are today's rates:

MortgageTerm Rate(%)
variable rate Prime - 0.80%
1 year closed 2.64
2 year closed 3.40
3 year closed 3.49
4 year closed 3.79
5 year closed 3.69
10 year closed 5.24

All rates are subject to qualification criteria and can change without notice. For up to date rates and product information, visit www.albertamortgagecentre.com, or call 780-479-2222 today.

Mortgage Update

After a late surge in mortgage rates over the past few weeks, it appears that rates are again returning to early March levels. An increase in the Bond Market and strong expectations for the Spring Real Estate Market caused an increase of nearly 0.4% overnight 2 weeks ago from 3.89% to 4.29% for a five year fixed rate mortgage at many lenders. However, due to increased competition for a less than expected number of transactions rates began falling within days of the increase.

Today's Best Rates:

1 Year 2.64%
2 Year 3.40%
3 Year 3.50%
4 Year 3.79%
5 Year 4.04%
7 Year 5.04%
10 Year 5.24%
Variable 2.20% (Prime – 0.80%)

All rates are subject to qualification criteria and can change without notice. For up to date rates, or for more information visit www.albertamortgagecentre.com.

Fixed Rates Trending Downwards

After an increase of over 0.4% earlier this year in five year fixed mortgage interest rates, fixed rates for nearly all term lengths are falling this week. At it's height, the five year fixed rate being offered by many lenders had gone all the way up to 4.19% just a few weeks ago. Now, with the surge in real estate, and mortgage activity easing as we close in on the March 19th, 2011 deadline for mortgages to offer 35 year amortizations and refinancing up to 90% --the market has again eased and rates have correspondingly dropped. As of today, here are the best rates available through Alberta Mortgage:

Term Rate %
variable rate Prime - 0.80%
1 year closed 2.64
2 year closed 3.20
3 year closed 3.35
4 year closed 3.79
5 year closed 3.84
10 year closed 4.99

As always, all these rates are subject to qualification criteria and can change without notice. To get the most up to date rates, call one of the qualified mortgage professionals at Alberta Mortgage, or visit www.albertamortgagecentre.com.

To find out more about how the changes to mortgages can/could affect you, call one of the qualified mortgage professionals at 780-479-2222.

Today's best rates:

Mortgage Term Rate(%)
variable rate Prime - 0.80%
1 year closed 2.85
2 year closed 3.20
3 year closed 3.35
4 year closed 3.89
5 year closed 3.84
10 year closed 5.15

All rates are subject to qualification criteria and can change without notice. For up to date mortgage rates and information, visit www.albertamortgagecentre.com or call 780-479-2222 today.

Federal Government Announces Changes to Mortgage Qualification

Finance Minister Jim Flaherty announced on Monday January 17, 2011 that the Federal Government will be making the following changes to mortgage lending rules:
• Reduce amortization of mortgages from 35 to 30 yearson insured mortgages;
• Maximum borrowing limit from 90% to 85% on refinances;
• No longer insuring Home Equity Lines of Credit.
The first of these changes are to become effective on March 18, 2011 for amortization and refinancing rules and the Home Equity Line of Credit to take effect on April 18, 2011.

To learn about how these changes will affect Canadian homeowners, call Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.

Alberta Mortgage's Weekly Rate Update

For the most part, rates have held steady this week. Look for some movement in the coming weeks as market activity picks up.


Mortgage Term Rate

variable rate Prime - 0.80%
1 year closed 2.54
2 year closed 3.15
3 year closed 3.19
4 year closed 3.69
5 year closed 3.74

All rates are subject to qualification criteria and lender availability. Rates may change without notice.

For more information about mortgage rates, visit www.albertamortgagecentre.com today.