Understanding How Mortgage Rates Are Set

Robust economic growth led by housing and consumer spending forced the Bank of Canada to raise interest rates by a quarter of a percent on June 1, and more increases are expected later this year. Many home buyers now have to determine whether a variable-rate or fixed-rate mortgage is their optimal choice.

Among all mortgages transacted last year, 65% were fixed rate, 29% variable rate, and 6% were combination mortgages. Yet, many may not realize that variable-rate and fixed-rate mortgages are priced by different means.

Source: Keller Williams - This Month in Real Estate - May 2010

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David J Edwards
Real Estate Agent & REALTOR
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
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The Edwards Real Estate Group specializes in Residential Real Estate for buyers and sellers.