Just thought I would drop you a couple of bullets with respect to interest rates & this crazy global economic environment! No point waiting until Friday, too much going on! US credit rating dropped to AA+ (that means they would have to get a mortgage with a “B” lender in Canada J) Seriously, though the drop in credit rating has had impact globally. US also just announced they will be keeping rates low into 2013, since we are a major trade partner with the US, expect us to do the same Expect to see a drop in 5 year fixed rates maybe next week, this will help in qualifying clients for mortgages
Prime will likely remain at 3% well into 2012 (great news for variable mortgages!) Low rates hopefully means more buyers in the market! TD is offering a promo right now – transfer in your mortgage from another bank FREE! No set up fees! Also, if you or your clients are looking to get a Secured Line of credit, NO APPRAISAL FEES & NO REGISTRATION FEES ($50,000 or more) & don’t forget 8,000 points for each referral.
Wayne Marks (www.waynemarks.ca)TD Canada Trust Mobile Mortgage Specialist GTA & Surrounding Markets Cell (direct): 416.294.9704Fax (Toll FREE): 877.385.6414
"Getting your mortgage IS this comfortable!"