Rate Drop...
Hi everyone, here's a note from my financial advisor:
"Scotia announced a rate drop this morning on the 5, 7 and 10 year fixed rates. Their 5 year fixed rate is currently at 3.69%. I would expect other lenders to follow and could see the 5 year fixed rate as low as 3.49% - 3.59% by the end of next week.
Keep in mind this is a reaction to the current bond rates and the US still not able to resolve its debt situation.
I don't think this rate drop will last to long. Take the next week to make sure your clients have a proper pre approval and get this rate locked in for 120 days.
Have a good long weekend"
Rob C. Townsley
Oriana Financial - "Great Mortgages Made Simple"
Oriana Wealth Management - RRSP / Educational Saving Plans
905-830-3444
905-830-4288 fax