Canada Day in the middle of the week! Woohoo! Not quite as convenient as having it on a Friday or a Monday, but look at it like this… It’s like a mini weekend packed in between two short two day work weeks! Now, that I can handle!
As everyone celebrates Canada’s 153rd anniversary (of course she doesn’t look a day over 149!), downward pressure continues on mortgage rates. Insured mortgage rates have now fallen to as low as 1.94%, with insured variable rates now as low as prime -0.70% (1.75%).
As mentioned in my blog last week, there is still room mortgage rates to come down even further. Can we get a 1.49% 5 year fixed please?
May as well put the request out the universe now!
While this rate does not exist, it’s possible that insured rates could end up falling to this level by the end of the summer. It’s possible, but will it happen? Time will tell.
Tune in every Thursday at 12pm for Lunch Time Q&A with Paul Meredith on Facebook!
The Paul Meredith Team will be donating $250 to local food banks for every mortgage we fund from April 30-July 31st, 2020.
With well over one million Canadians now out of work, the food banks need our help more than ever.
For this period in 2019, we closed 93 mortgages, which would have meant a donation of $23,250! We want to exceed this number this year! Regardless of whether you are purchasing, refinancing, or have a mortgage coming up for renewal, all closed mortgages closed through the Paul Meredith Team will add to the total donated.