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Tag Archives: royal bank of canada.

Historically Low Mortgage Rates are Vanishing

11 Saturday Feb 2012

Posted by torontomortgagetrends in Uncategorized

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Tags

bank of canada, bank of montreal, closed mortgage, fixed rate mortgage, royal bank of canada., toronto dominion bank

Historically Low Mortgage Rates are Vanishing…

The banks offered five-year mortgages at 2.99 per cent, specials that were a boon to home buyers and revealed increasing competitiveness among Canada’s big banks, but Toronto-Dominion Bank and Royal Bank of Canada have raised their mortgage rates ahead of schedule, putting an early end to record-low rates.

This low rates debuted at a time when the housing market is poised to slow down and the Bank of Canada has been warning heavily indebted consumers to do the same.TD raised its special four-year closed fixed rate mortgage by 40 basis points to 3.39 per cent, effective 7 Feb 2012. Also
at the same time, it is introducing a special five-year closed fixed rate mortgage at 4.04 per cent.The bank’s five-year closed mortgage stands 10 basis points higher at 5.24 per cent on the same day. Although TD had said it would offer the special rates until Feb. 29.

Rates can go up and down depending on market conditions,While Banks & Financial Institutions kept this offer available as long as they could, the new rate reflects rising bond yields and the subsequent increase in the cost of funds.

Royal Bank of Canada made similar changes to its rates on 6 Feb 2012. The new rates also took effect nextday. as they define as their long term funding costs have gone up considerably due to global economic concerns and while we have held off in passing on these rate changes to our clients, it is now necessary for us to increase this mortgage rate.

RBC cut its rate to 2.99 percent in January in response to a similar cut from the Bank of Montreal, whose offer has since expired aswell.

Still there is hope and that is Mortgage Brokers. Contact for more Low Mortgage Rates options click here and apply online

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Private Mortgages – An Info.

01 Thursday Sep 2011

Posted by torontomortgagetrends in Uncategorized

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canadian imperial bank, canadian imperial bank of commerce, high return investment, oronto dominion td, private mortgages, royal bank of canada.

Private Mortgages

A majority of the mortgages in Canada are held either by the 4 major banks i.e. Royal Bank of Canada (RBC), Scotia Bank, Toronto Dominion (TD) or Canadian Imperial Bank of Commerce (CIBC) or one of the leading a financial institutions

Most Canadians have heard of Private mortgages but have little knowledge or concept of what they are or how they work. Private mortgages can be an alternative source of financing for borrowers and are usually a high return investment opportunity for investors. Most banks and institutional lenders typically need to satisfy strict lending criteria and are not willing to budge too far from the norm. As a result they and will shy away from such transactions. private lenders on the other hand are willing to fund such transactions based on the equity and location of the home. Effectively they come in where the major banks or institutional lenders are not willing to go.

The concept is simple – If time is not on your side and you cannot wait for a long approval process or you cannot qualify for a regular mortgage form a bank or institutional lender, then a private lender may be the answer to your situation. At www.torontomortgagetrends.com  we have access to many Private lenders who are willing to take the risk that a bank or financial institution shies away from. Call us at 647.267.6338 to get a quick and easy consultation or apply online and we will contact you promptly.

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CENTUM Metrocapp Wealth Solutions Inc.
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T. 647.267.6338
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E. vijay_gandhi@centum.ca           Visit My Blog

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