Your FAQ Answer
Question: Number
1 - Why are mortgage rates so
low and will they be going up any time soon?
Answer: Mortgage rates
consist of : 1) Variable, or short term rates, which are tied to
the Bank of Canada Prime (usually much lower than fixed rates), and
2) Closed, or long term fixed rates, which are tied to the Bond
Rate. These rates have declined in the last few years for several
reasons, but it all comes back to supply and demand. We do not
expect rates to increase significantly over the next year.
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