Five Year Rates Go Up

We have quite a few clients now pounding the pavement for homes. If you're gearing up to shop yourself it's important to initiate the relationship with your lender sooner rather than later.

5 Year rates took a bounce over the past few days and we were able to secure some 120 rate guarantees for our clients. Some other mortgage products also went down, however most first time buyers end up choosing the 5 year rate.

The moral of the story is, if you're thinking you might move into a new home in the next four months, you'll now pay a higher rate on the 5 year term than you would've yesterday. You can avoid these increase by acting now to protect yourself against any further increases.

If this sounds like you, please get in touch with us so we can lock in the lowest rate for you. Don't delay with this important need aspect of your home shopping experience.