Rates are dropping!

December 9, 2008 Interest Rates, News No Comments

WOW!

One thing that continues to surprise me over and over in this profession is when things change in the mortgage industry they really change fast. Over the past couple of months (since late September) fixed interest rates went up and stayed steady. But over the past day or so the one, four and five year rates have all dropped quite a bit. One of the major lenders just dropped their four year to 4.89% and the five year to 4.99%. Wow!

No one has the ability to forsee the future but if these rates stay around and if housing prices stay steady then perhaps we will have a busy January in the housing market in Calgary.

Interesting times.

If you have any questions call me and we can run a few numbers for you.

Cheers.