TMG Boasts Low Rate (3.65%)--After 60-Year All-Time Low--Rates Continue to Rise with Vengeance

Calgary, AB (WebWire) June 24, 2009 -- TMG (The Mortgage Group) is pleased to announce some of the lowest rates in 60 years. Their current promotion on a 3.65 per cent four-year, fixed rate with a 30-day guarantee on Alberta mortgage rates is only offered by few select mortgage brokers in Canada.

For the past eight months, Alberta mortgage rates have plunged all the way to a low of 3.54 per cent for the first time in 60 years. Within the past few weeks, they have risen without warning every two days (June 3, 2009). As rates go up, experts don’t expect the window of opportunity to lock in one of TMG’s rates to be around for long. At this point, the rates remain just above 0.20 per cent of the lowest rates in history.

When TMG was asked to obtain the best rate, mortgage broker Richard Moxley replied, “I think it is official to say that rates are going up. We have had rate increases from 3.54 per cent and 3.59 per cent on a five-year fixed with little to no warning. Now, the best rate I have is a 3.65 per cent on a four-year, fixed rate with a 30-day quick close.”

In addition to the lowest mortgage rate on the market, TMG offers $1,000 coverage of legal and appraisal fees on the quick close loan. Borrowers may extend the quick close to 120 days with a 4.39 per cent rate.

On May 29, 2009, MCAP, Canada’s leading private mortgage lender, projected five-year fixed rates to go as high as 4.0 per cent by the end of the week. Five-year, fixed rates are traditionally the most popular among homeowners. Merex Financial warns, “Rates are artificially low. Watch for fixed rate increases.”

As the Canadian economy continues to improve, rates rise in accordance. On May 28, 2009, the Royal Bank of Canada (RBC) announced the five-year bond to close at 2.56 per cent. This was the biggest two-day jump in eight months.

According to Canada Mortgage Trends, the bonds indicate a caveat regarding inflation of fixed mortgage rates; “As most know, fixed mortgage rates are linked to bond yields. Certain non-bank lenders have already reacted by raising rates 0.05% to 0.20%.”

As of June 4, 2009, the low rate on Alberta mortgage rates can be locked in with a 30-day quick-close. In addition, TMG offers competitive rates all over the country starting at 3.65 per cent, four-year fixed.

For additional information on Alberta mortgage rates, contact Richard Moxley or visit http://www.get-lowest-mortgage-rates.com/p/ab/alberta-mortgage-rates.html. The offer is only available in Alberta and must meet the criteria mentioned in the web page. The promotion is subject to the mortgage application being approved by the lender.

About TMG--The Mortgage Group:
Richard Moxley is a mortgage consultant for TMG. His team has a total of over 30 years of experience in the mortgage industry.

Contact Information

Richard Moxley

Mortgage Consultant

TMG - The Mortgage Group

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