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.
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