Hi Everyone,
We have seen a lot of volatility in the markets this week and last week. In particular the 5 year bond yield has dropped significantly... by as much as 20bps in less than 3 days.
If you are ever interested in know when and if 5 year fixed rates are going to drop or rise, please
click here to see 5 Year Bond Yields
The typical spread is about 1.4% to 1.6% which means that 5 year fixed rates could be as low as 2.79%. What is more likely is to see more lenders offering 2.89% vs the standard of 2.99% currently available.
NOTE: There are still lenders offering promotions and no frill rates (restricted) that are lower than the standard rates... but be cautious.
Please ensure you know the differences between rates as you do not want to become the client who recently paid TD $17,000 in penalties (
Read Article).
Call or PM if you have questions. Happy house hunting!!!