Royal Bank has just announced another increase in posted rates, apparently by 15 basis points across all terms. Once again the discounted rates should move too and other lenders will likely follow over the next few days. The Bank of Canada qualifying rate will likely increase to 6.25% sometime next week.
1. If you are thinking of buying you should lock a rate with a Pre Approval to protect yourself somewhat from rate increases.
2. If your mortgage is expiring this year you should let our mortgage brokers calculate whether an early renewal makes sense for you.
Give me a call and I can discuss your situation.
This may create more qualified buyer interest in your property. Call to book a pre-listing appointment with me TODAY.
Always keeping you informed.....
JoAnn VISAretis Sales Representative C21 Leading Edge Realty