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Fear Drives Fixed Mortgage Interest Rate Jump in Canada

November 29, 2010
Top Quote Jared Dreyer sheds light on the latest interest rate jump for Canadian Fixed Rate Mortgages. End Quote
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    QuoteInterest Rates in Canada are still at historic lows and present a great opportunity to buy a homeQuote
  • (1888PressRelease) November 29, 2010 - On his way to the annual mortgage conference in Montreal (CAAMP) Jared Dreyer, Accredited Mortgage Broker and President of Dreyer Group Mortgages in Vancouver comments on the conditions that lead to the raise in Canadian mortgage interest rates late last week.

    "In the past seven days we have seen a decline in the stock market. People acted in fear as a result of insecurity in the US, China and Ireland markets. Investors took their money out of the stock market and put it into the bond market which raised the bond yields and interest rates for fixed rate mortgages. In the past few days stock markets have rallied back and the bond markets have come down.

    While mortgage rates did increase from 3.39% to 3.59% and now 3.69%, they are still at historic lows and present a great opportunity for you the client to buy a property or refinance your mortgage".

    To find out more about how you can save money on your mortgage, go online to http://www.dreyergroup.ca or call our office 1-800-687-9020

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