Graph shows why mortgage rates may go up soon

We watch all kinds of indicators for when mortgage rates may change.

This is the main one, the CMB – Canadian Mortgage Bond. As you can see it is on the way up and mortgage rates and the graph are directly related.

Rate Watch Program
When rates go up the banks call us and give us at least 2 hours – and sometimes 2 days – notice. This lets us send in all the files that we are working on for 120 day – or 4 month – rate holds. All the files that have enough data in them – at least an application and the disclosures and a payslip – get rate holds at today’s rates.

The banks do not do this for you! Another reason to use a broker that works the system to your advantage at no cost to you!

Mark Herman, top Calgary Alberta mortgage broker for new home purchases and mortgage renewals.