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About Us
Invis on the Peninsula is a team of Mortgage Professionals led by Michael Anthony Lloyd.
With a combined 75 years plus in lending and one of the highest volume teams in Invis, Canada's largest mortgage brokerage, we have the experience and relationships with lenders to get not only an approval, but the best overall package for you.
Our philosophy will always be based on long term relationship building with our clients...we always offer objective advice, and will be here in the long run |
Follow us on Facebook:
With so many people on facebook, we decided to add a Invis on the Peninsula page to give you easier access to news that affects you. Simply click on the link below and then click the "like" button and you will be a fan of Invis ont he Peninsula...we will update your news when things like today happen, rate changes etc.
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| Mortgage Update
July 20, 2010 |
Bank of Canada raises Prime another .25%.
The Bank of Canada raised their Overnight Rate a further .25% since their previous .25% increase in June, causing Prime to increase from 2.50% to 2.75%.
Despite the increase, the Bank actually lowered it's economic growth expectations for the rest of 2010 and 2011. While the Canadian economy has shown good growth earlier in 2010, it seems to be slowing now as the Canadian consumer is spending less. The US economy is showing weak growth & consumer confidence and generally weak signs of recovery. We expect to see a hold on the next Bank announcement Sept. 8th...there currently is little reason to increase rates further unless we see much more positive economic news out of Canada and the US.
Bond Yields continue to slide, though the lenders are reluctant to follow with rate cuts. Many lenders are instead offering "quick close" specials instead of lowering their rates. The 5 year posted fixed rate is now 5.79% (it was 6.25%), this is the new rate used to qualify all clients looking for variable rate mortgages.
Our current best variables are now running at Prime -.50-.60%% (2.25 - 2.15%), and 5 year fixed rates are in the 4.15% - 4.34% range (these rates vary by lender, some offer specials below these rates, but conditions do apply).
As always, if you have any questions or concerns, please email or call us at anytime. |
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It's the IOP Summer Contest!
We thought it was time for a summer contest, so here it is! Simply refer a friend or family member to us for a mortgage review and we will enter you and them in a draw for an Apple iPad!
Simply click on our refer a friend link on the bottom of our website and you will be entered! Once your friend contacts us, they will be entered as well...it's that simple!
Contest runs till August 31, 2010, no purchase neccesary, draw to be made September 1st, 2010, must be at least 19 years old to enter...full contest details are available from our office. |
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