Harry Murba
2074 Steeles Ave E L6T 5A5 Brampton, ON, Canada

http://www.bankofcanada.ca//fad-press-release-2017-07-12.p

Despite a topsy-turvy mortgage landscape that has seen rates go up unexpectedly, don't expect your monthly payments to skyrocket any time soon, economists say. "I think that mortgage rates will remain relatively stable," CIBC deputy chief economist Benamin Tal told CBC News. "I just don't see anything that will send them up." Mortgage rates have been creeping up over the last few months a fact that may have many homeowners scratching their heads. ... Usually a turbulent economy, like the one Canada is currently facing, with oil below $30 US a barrel and the loonie lower than 70 cents US, would be accompanied by a drop in mortgage costs, especially fixed rates. That's because fixed mortgages are tied directly to government bond yields, which are at an all-time low as risk-wary investors steer clear of the stock market. CIBC increased its three-year fixed rate by 10 basis points to 2.59 per cent. RBC upped its special offer on a five-year fixed mortgage by one-tenth of a point to 3.04 per cent. TD Bank increased its one-year and four-year closed special rates by one-tenth of a point each. Scotiabank increased its variable rate by 10 basis points. Got a client asking for rates? Below is a rate preview with the top 3 banks I personally deal with: RBC: 5 year fixed at 2.89% or variable closed at 2.72% TD: 5 year fixed at 2.84% or variable 2.60% CIBC: 5 year fixed at 2.84% or variable 2.70%