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.