Interest Rates Increase

Increase of fixed mortgage rates to increase!! What does this mean for you? An increase of 20 basis points is anywhere from $60-$100 per month based on a mortgage of $500,000. Remember, July saw an increase of home sales when it was first announced that RBC was raising their rates...some sub-areas saw a Seller's Market in effect. With this recent announcement, it is thought that the market will see an increase of activity come the Fall. 

If you would like to have more information or have any questions or concerns about the market activity in YOUR area, feel free to contact me anytime! 

For further details on the mortgage rate increase, click on the link below: