Current Mortgage Rates Remain Steady In North America

Last year during the so called credit crunch investors were worried, so Mortgage Bonds were trading very high, but today we are seeing investors be a little more relaxed about real estate and credit markets which is creating smaller mortgage bond spreads which sometimes will mean that mortgage rates will stay lower.

We are starting to see the 5 year ARM come down, some lenders like Resmor Trust are offering prime + 0% again. This is significant as we didn't think we would see that type of rate again after the credit crisis hit.

Fixed mortgage rates have not went up a lot in fact we have seen them come down in recent weeks which is a good sign as housing markets have steadied which means more people in North America will be able to afford to get into the market.

Mortgage rates in Canada and the US have remained low and we expect them to remain there for the next year as the economy's in both countries try to rebound from the credit crunch that hit last year.

Written by Patrick Schauerte
Regina, Saskatchewan, Canada
www.patrickschauerte.ca
1-877-566-7049