The Mortgage Blog » Fixed Rates

Fixed Rates are on the Rise!

Mike Morisset — Mon, 29 Mar 2010 17:48:24 +0000

Poor December Job Numbers…Rates Stay Unchanged for Now!

lara — Tue, 12 Jan 2010 01:21:24 +0000

The expectation of decent job numbers for Canada and the US were met with disappointment when the numbers were released on Friday. The expectation was for Canada to have gained jobs, as we did in November, and the US to stay steady. What actually came through from December was vastly different.

Canada saw a loss of 2,600 jobs last month, while the US saw a drop of 85,000 jobs for the month of December. While the unemployment rate in Canada remained at 8.5%, we did not see the kind of gains that were seen in the previous month.

These unsteady changes in the job statistics are signaling more of a roller coaster recovery than was expected and are causing economists to scale back their predictions in rate hikes. The job loss numbers for December are mirroring the recovery of the recession of the 1990’s which saw large job growth, followed by consolidation.

Despite this hiccup, Economists estimate growth in Canada in the final three months of 2009 to register between 3% and 4%. Many Economists are still looking to the third quarter for the Bank of Canada to raise its benchmark lending rate; however, this remains to be seen.

Happy New Year from Origin-Silverman Mortgage Group!!

Zach Silverman — Sat, 02 Jan 2010 00:11:14 +0000

Happy New Year Everyone!!

It is our hope at Silverman Mortgage Group that everyone enjoyed a great holiday season and you are all ready for an amazing 2010!

We are starting the new year off with historically low interest rates. This being said, with the loonie rising to the highest level since October and the spread between today’s low interest rates and the bond yields, rates will be trending upwards in the near future.

If you or anyone you know are in the market to purchase a new home, refinance your current mortgage, renew your current mortgage or pull some equity from your current home now is the time!!

If you are actively in the market, get your pre approval’s in ASAP as you can hold today’s rates for up to 180 days.

Click on the rate link to see today’s rates.