I hope everyone had a great Christmas and New Year! We were very busy over the holidays seeing lots of family, enjoying the little bit of white stuff we saw and playing with all the new toys we got for Christmas! We are now back in the swing of things and excited for 2013 and all the great things to come. I hope you and your families all had a little rest and enjoyment over the holidays as well!
As for the mortgage world – there were some major rule changes made in July. This has effected those buying and refinancing their homes by tightening qualifying and decreasing access to home equity. We have seen record low fixed mortgage rates stick around (for now) while the Bank of Canada is still hinting at a future rise in the prime lending rate (no where to go but up). With the US fiscal cliff deal last week the Canadian bond yield has risen, which means we should expect a jump in fixed rates. If this spike is here to stay we will soon find out but nevertheless that is where we sit right now.
I’d like share a client testimonial I received last week from a client.
Chris & Sarah Wiens
You can read more client experiences here.
Thank you again for your continued support and referrals!