Mortgage Memo – Friday February 14th

Full blogpost this weekend to your email! If you missed the last mortgage memo, two weeks ago, here’s the link!

Lots of good conversation in this weekends edition, out Saturday or Sunday. Snippets below!

Sorry for my slowness in getting “mortgage memo” out. It’s been a crazy few weeks!

Current Mortgage Rates

Insured/Insurable:

Variable 5 year: Prime – 1.00% (currently 4.20%) – High ratio purchases

Fixed 5 year: 4.19% – High ratio purchases/some switches

2 year fixed, 3 year fixed: 4.29% – High ratio purchase/some switches

Uninsured/Refinances:

Variable 5 year: Prime – 0.80% (currently 4.40%)

3 year fixed – 4.49%

Remember! Rates vary depending on the type of mortgage transaction, downpayment amount, lender, and qualifications. Rates also depend on when your mortgage is closing and the size of the mortgage.

Rates subject to change.

I can have a quick call with you to help you determine what your rate is going to be!

New blog post out this weekend! Here’s some snippet’s so far……

It’s the draft so far. Full post will be sent out by email on Saturday or Sunday, once I finish!

This is a pretty important headline today, which will have an impact on our borrowing rates.

Yup, you heard it here first. Rates could go………..(this weekend)

Notice how “could” is in quotations.

For those who bet, or don’t bet, the game of rates just changed……….(more to come)

Slow down, though. I’m not saying that rates are going to go up, I’m just saying…..(this weekend’s blog)

If I was a conservative,

I might think about…….

I’m a bit ticked off

that we’re even having to deal with this. Tariffs. Really??

Now rates are at risk of going up because of all this stupidity. Honestly, before Trump and tariffs, our economy was coming in nicely for it’s soft landing. So much for that.

Can you start to see a pattern, here?

(For those that don’t want a political viewpoint, skip over this next section, it’s not for you).

So we know overall debt will increase with the Trump presidency. Wait, is there a pattern here? Of stupidity? Yes. But also in what happens with each Republican President…………..

(more to come)

Just as easily said, rates might not go……(the anticipation!)

On the flipside of the coin………

I’ve been lax in my mortgage memos these last two weeks, given that the phone is ringing off the hook and so many people need sound advice. I’ll try to have two more out next week, after the blog post this weekend.

I’m working on my web dev skills. I would have rather put a feedback box of some sort instead of a link. As usual, if you have some feedback please email me at david@olympicmortgages . ca (make sure you take out the spaces), or respond to my original email if you got this by email!

And for the subscriber that pointed out bugs bunny and the phrase “that’s all folks”, wasn’t quite accurate, here it is again, more accurately with Porky Pig 🙂