Tuesday, October 13, 2009

Fixed interest rates on the rise

Mortgage rates are on the rise today at most lenders ... the balance will no doubt follow suit in a day or so.

The discounted rates under 4.00% for all terms are still available (O.A.C.) for a limited period of time so get in touch with a licensed mortgage broker and protect yourself from rising rates for the next 120 days.

120 day rate protection covers you from now until mid February 2010 so anyone with a mortgage maturing between now and then should be getting off the fence and acting now. Any purchase transaction with a closing date between now and then should make sure that the financing has been arranged. There is no model to suggest where rates will go over the next while but if you can get a 3.79% 5 year closed mortgage rate today, why take the chance and wait til tomorrow to make your application through a licensed mortgage broker?

No comments: