Rates are up...but this isn't so bad

No saying "the sky is falling"! Rates have gone up 50bps to 60 bps since Monday, with most lenders already making the move. 4.39% is the new mark (but some, like Home Trust, have a rate special of 4.29%) for 5 years. But this is still a great rate. As I have said before, the average interest rate for 5 years in Canada since 1951 is 9.04%. We are at less than half that rate. Keep your clients thinking positively and we will surge through the spring market with little ill effects.