FREE EASY REFI PROGRAM at 3.67% for 5 year fixed

No significant changes since my last email, with regard to rates.

Bank Rate still sits at 0.50%

Prime Rate is still 2.25%

Best 5 Year Fixed Rate is still 3.67% - 3.54 is available on a quick close FULLY closed 5 year term. Best Variable Rate is PRIME + 0.55% (Currently 2.80%) 4 year term - PRIME + .60% 5 year term (2.85%) What is really attracting attention is my new "EASY REFI" program that is exclusive to the lender currently offering the better mortgage options with a 3.67% 5 fixed year rate.

Under this program the lender pays for the legal fees, and appraisal fee for mortgage refinances. In the past, this was a program that the Bank's were only allowing for Mortgage Switches. But with a switch you can't change the mortgage amount, or alter the amortization. Now you can roll your penalty, or consolidate additional debts back onto your mortgage with no legal costs or a trip to a lawyer. The closing company will come to you on your schedule.

This is a great program if you are considering breaking your current fixed rate mortgage and have a penalty to do so, or are interested in converting from a variable rate mortgage to a fixed mortgage or you may want to lower your mortgage payment by extending the amortization, especially if you have had a recent change in employment.

With rates being at a historical 75 year low, many clients are using this opportunity to seek out the security of a 5 year fixed rate.

Waiting for the Bank of Canada to raise the Bank Rate could result in missing out on these great fixed rates. Fixed rates are not tied to the Bank Rate, the Bond market has a much greater effect on how the Banks position fixed rates and in the last 2 weeks, we have seen a 0.40% increase in the bond rates. This increase has not yet been reflected in mortgage rates. But one thing is for sure, there is a current upward pressure on fixed rates at this moment.

There are a few conditions that are applicable for this program, which nclude:

* Eligible mortgages to a maximum of 90% loan to value. If you need to refinance to 95% then we can still get the great rate - just not the free legals.

*The lender also has some minimum expectations on credit ratings to qualify for this program along with minimum mortgage amount of $100000.00.

If you would like some more information about the EASY REFI Program, please give me a call. Laurentian Bank just announced effective today they are raising their 5 year fixed by 0.20% to 3.99%. There is the first lender to start the increase.

Thanks,



David Kendall
Mortgage Agent License # M08004045

211 York Road, Unit 3, Dundas, Ont. L9H 1M9 OAC Mortgages Brokerage License # 10928 An independently owned and operated franchise of the Mortgage Alliance Network

You could win up to $100,000.00 toward your Mortgage!!!