Guelph Mortgages

Fixed mortgage rates will likely fall in the coming week. Bond yields are down as a result of weak GDP numbers for April at 0.00% growth. (That’s right ~ the economy was stagnant in April.) The USA is in the same shape, with a lagging economy and uncertain outlook on the horizon.

This leads the way for the Bank of Canada to leave its overnight lending rate at its current level, which is great news for variable rate mortgage holders. It is highly likely that we will see rates remain near the current levels through the rest of 2010. If you can qualify for a variable rate mortgage I would strongly consider it, and if you are already in one you should hold the course for a while yet!

Warm regards
Chris
--
Christopher Bisson
Mortgage Broker
The Mortgage Centre

519-763-3900 x1003
www.mortgagecencierge.ca