Fixed Rate Mortgage Rates on the rise....

After fixed rate mortgage interest rates dropped this spring down to as low as 2.79% for a 5 year fixed rate, and 3.69% for 10 years, rates began moving up this summer. While it is not expected that the uptick in rates (0.7% in 3 months)is expected to continue at its current pace, it does appear that the cost of owning a mortgage is about to start going up. While the increase in rates is likely to cool the housing market slightly(as those who were on the fringes of affordability are squeezed out of the market), fixed rate mortgage interest rates remain well below their historical averages. If you're possibly in the market for purchasing a home, or if you have a mortgage renewal or refinance coming up this might be the time to speak with a mortgage broker and get yourself a Rate Hold. What is a Rate Hold you ask? A Mortgage Rate Hold is a product offered by many financial institutions across the country, that locks in a rate for pre-qualified customers for a period of time -regardless of what happens to rates. Many of the Rate Holds offered by the mortgage brokers are Alberta Mortgage provide prospective mortgagors with between 60-120 days of interest rate security. Rate holds provide stability to those in the market for home financing. For more information regarding Rate Holds, or to get pre-qualified, call one of the qualified mortgage associates at Alberta Mortgage at 780-479-2222 or Visit: Alberta Mortgage Centre today

5 Year Fixed Rates Drop --Again

After speculation that interest rates would finally begin going up earlier this year from many experts and economists(http://business.financialpost.com/2012/03/27/mortgage-rates-have-nowhere-to-go-but-up/), it appears --at least for the time being, that lower rates are still to come. As of today, 5 year fixed rate mortgage rates have fallen as low as 2.99%*, and with increasing pressure on financial institutions across Canada to meet targets in our tepid market, many people now expect to see even further rate drops on the horizon. For more information about mortgage interest rates, contact one of the Edmonton Mortgage Brokers at Alberta Mortgage at 780-479-2222, or visit http://www.albertamortgagecentre.com. *subject to qualification criteria

5 Year Fixed Rates Drop

5 Year Fixed Rate mortgage rates have fallen again, now down to 3.09%. Many experts are predicting the trend of lower than normal rates to continue through the summer, however, for those looking to purchase a home or refinance at some time within the next 90 to 120 days, this most recent rate drop provides an excellent opportunity for getting pre-approved. For more information regarding mortgage interest rates, visit www.albertamortgagecentre.com.

10 Year Fixed Rate Mortgage Offering Canadians Stability, at a Very Low Cost

10 year fixed rates haven't been an attractive option for most Canadian Homeowners at any point in the last decade. However, due to today's economic climate, many Canadian Homeowners are maximizing their savings with today's historically low interest rates, by selecting longer than normal fixed rate mortgage terms. Today's 10 year fixed rate mortgage at 3.89% provides a tremendous opportunity for Home owners to save thousands of dollars over the next 10 years in two ways: 1. As compared to renewing in 5 years with an interest rate of 5.00%, homeowners would save approximately $1,800 for every $100,000 left owing on their mortgage. 2. By selecting a 10 year term, homeowners can enjoy stability for a full 10 years, without experiencing a 'payment shock' at the time of renewal. When rates go up(as they are forecasted to at some point within the next 5 years), homeowners with outstanding mortgages and secured lines of credit will see their mortgage payments go up. If you have a 10 year term, you will not see that increase for 10 years --but if you've selected a 5 year term, you would likely see this increase sooner. For more information about interest rates, and mortgages, call one of the qualified Edmonton mortgage brokers at Alberta mortgage at 870-479-2222 or visit http://www.albertamortgagecentre.com.

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.