This communique just in from our Office Affiliated Mortgage Broker (Jill Hawe, INVIS):
"Bond yields have steadily been rising and fixed rates are slowly heading up as a result. I still have 2.99% available on a five year term for high ratio mortgages (less than 20% down) - live deals only.
Reminder: 100% financing is disappearing as of October 31st. Now is the time for your first time buyers to see if it is possible to enter the market. Your clients need good credit and 1.5% of the purchase price for closing costs from their own resources. The 5% down payment is provided by the lender in the form of a cash back mortgage. The client pays a higher interest rate to offset the 5% cash back.
Let me know if you would like any more information.