Invis on the Peninsula Announces
Fixed rate Blipping Up.
Surrey, BC - June 12, 2008 - While the Bank of Canada left Prime alone, some of the Big Banks have seen this as a great money making opportunity and have raised their fixed rates by approximately .25 - .30%. This does not affect variable rate mortgages, only those looking to lock in to a fixed rate.
This is a pure profit move by the Big banks, who have seen their income dropping recently due to a larger majority of Canadians taking floating mortgages. By raising the fixed rates they hope to scare many into locking in. We believe this is a short term situation and that over the next year we will see reduced fixed rates and low variable rates. Until the US economy starts to turn around rates will have to stay low. |
| Please note I have changed my email to mikework@shaw.ca please adjust your address book...thanks! |
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