Windsor Real Estate Statistics, Market Updates, Housing Starts, Mortgage Rates, Windsor MLS Listings and Data.
RBC Raises Mortgage Rates
The Royal Bank has raised their interest rates .25%. This is the 2nd rate increase in 2 weeks. Last week the major banks and most finance companies raised their rates .6%. This brings the total increase to .85% in 2 weeks. The RBC posted rate is now 6.1% on a standard 5 year fixed mortgage. So far it's on RBC but you can be pretty sure the other big banks will soon follow. What does this mean to you? Get pre approved now if you think there is any chance of moving in the next 4 months to lock in the current lower rates. If you need any help contact me and my Mortgage Partners can easily get you pre approved at the lower rates with a phone or on line application.
donmerrifieldjr@remax.net www.donmerrifieldjr.com
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