Here is the latest as to what mortgage rates are doing.
The US job less figures were lower than everyone expected and marked the first reduction in job losses in the US since April 2008. That coupled with the recent success of the US stimulus package "Cash for Clunkers" has sparked some positive moves in the equities markets.
GM has reported that they are very happy with the "Cash for Clunkers" program and are now looking to increase production to restock vehicles.
Bonds sold off a bit on the expectations of rising stock prices.
The spreads for mortgages has been stable over the past few weeks, however, the 5 year spread is only 1.69 today and we could see very small increases in the fixed rates if the stocks continue to gain strength. Variable rate mortgages are very stable at this time.
Today's Best Rates:
1 yr 2.55%
2 yr 2.85%
3 yr 3.45%
3.5 yr 3.75%
4 yr 3.89%
5 yr 4.15%
7 yr 5.15%
10 yr 5.25%
Variable prime +.3%
Courtesy of;
Paula Siemens -AMP
INVIS - SIEMENS GROUP
If you are looking to Buy or to Sell real estate in Vancouver area, give me a call. My consultations are FREE. The benefits to You, may be worth a lot of money.
Call Jeff Stark at 604-506-8481 or email me at jeff@jeffreystark.net
