Variable rates are increasing!

While fixed rates have dropped over the past few weeks, most lenders have increased their variable rates from prime - 0.60 to between prime -0.50 to -0.35.

Some lenders are still able to offer prime -0.60, but this could change any day now as the choice of lenders still offering this rate is to say the least, ‘limited’.

If you feel would be interested in a variable rate, please contact me right away so I can put on on to a lender who can secure you for a rate hold for 120 days.


Remember also that you can still buy with no money down and amortize over 40 years as long as you have a firm purchase and sale agreement and application by 11pm October 13th and the closing date is within 120 days.


Let me know if you have any questions, or if you need mortgage assistance.

Today’s lowest variable rate is prime -0.60 and the lowest 5 year fixed is 5.14 (quick close).

Mark

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don’t hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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