Fixed Mortgage rates moving up?

The bond is up by more than 22 points in the last few days.  Lenders continue to report fixed rate increases - see links below, but no reports for an increase in the prime rate yet.

Are you pressed for time?    With fixed rates rising, you may be wondering how to jump quickly, on a rate hold.     Please call me today to find out about locking in a rate for 120 days.    

It only takes 2 minutes (time is guaranteed) to request a Rate Hold*.

See link:  Announcement by a major bank

See link: Bonds

Here's a good article on the interest rate debate.  The Fed in the US, will fire the first shot. 

Even though Australia raised rates last week, most bankers will follow the Fed. 
To ignore the Fed would mean fluctuations in currency values that would hurt one's economy.  See following link in the New York Times.     

New York Times

* ”Rate Hold”:    a rate hold is not the same as a mortgage pre-approval application.   If you apply for a rate hold, you are still required to undergo a regular mortgage application process.  The lender reserves the right to either accept or decline, any applicant, based on their review of the mortgage applicant(s) submitted application(s).  This review involves the verification of personal credit report history and verification of income.

This blog post was written by Elizabeth Blair on October 12, 2009.  Elizabeth Blair is a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario.  Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area.   You can contact Elizabeth directly by phone at (905) 510-5785

by email at eblair@mortgageedge.ca

or you visit her website at:    www.missmortgage.ca

Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) www.imba.ca

Lic # M08005880 / Brokerage Lic # 10680

Head office is located at:  15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.