Good Morning everyone,
Spring is in the air which is making us all a little excited a believe. Finally caught up with our daylight savings time change and feel renewed and refreshed with the nicer weather coming.
Even though sales are down the activity on the market has been quite interesting. Quick rate update:
5 Year insured as low as 3.29% Fixed!
5 Year conventional as low as 3.44% Fixed!
Alternative lending rates are as low as 4.09% on a 1 year term with a 1% fee
Federal budget announcement to come tomorrow. Will be interesting to see the outcome and talks about altering the stress test. I would like to see some changes overall. At the end of the day I do believe future proofing a deal will help to a certain extent but keep in mind that a deal is more than just hypothetical what if scenarios.
It’s our job to fully analyze a deal and life scenario’s to ensure you can afford what’s being done and not get into bad scenarios. A stress test does not really indicate affordability issues down the road.
Anyways I digress, please feel free to contact Stephen or Richard at email@example.com or our toll free 877-762-6841 for all your mortgage needs.