How the US Economy effects Saskatoon mortgage rates and our finances.

Your Mortgage Link is a Saskatoon-based brokerage operation. Chelsey Limay & Marcel Brossart the best Saskatoon mortgage team . Their goal is to offer their valued mortgage clients a range of mortgage products, and to get the best Saskatoon mortgage rates possible from Canada’s top lenders.

With a passion for real estate, Marcel enrolled through UBC in 2002 and became a residential appraiser with Dream Home Appraisals. One year later, Home Loans Canada (Division of CIBC) recruited Marcel to become a mortgage professional. Buoyed by a relentless entrepreneurial spirit, Marcel founded Your Mortgage Link Inc. in May 2006. Today, he remains YML’s majority owner and President. Marcel is highly involved in YML’s day-to-day operations, including the hiring and training of new brokers. He also works extensively with both commercial and residential clients.

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Office: (306) 244-4663 | Tollfree: (866) 627-7716 | Cell: (306) 220-0309 |

How the US Economy effects Saskatoon Mortgage rates

As Pierre Trudeau once said about living so close to the United States “Living next to you is in some ways like sleeping with an elephant. No matter how friendly or even tempered is the beast, one is affected by every twitch and grunt”. That statement, said almost 40 years ago, still holds very true today.

Our economies are even more intertwined now and it’s no wonder many Canadians are paying close attention to policymakers and politicians south of the boarder, particularly the U.S. Federal Reserve.

Recently the U.S. Federal Reserve recently raised interest rates by 1/4 of 1% , the second time in 3 months. It has also stuck to its outlook for two more interest rate increases in 2017 while remaining cautious before implementing any further increases. “We have seen the economy progress over the last several months in exactly the way it was anticipated and we have some confidence in the path the economy is on” Fed Chair Janet Yellen said at a recent press conference. Employment numbers in the U.S. continue to look impressive and economic activity is expanding which helps keep the bond market relatively calm with no immediate increases in yields.

What does this mean for Saskatoon mortgage rates?

Saskatoon mortgage ratesFor the time being this is good news for Canadians. The lack of bond yield increase in the U.S. has resulted in the Canadian bond prices to remain unchanged as well. If you are looking to get a 5 year mortgage, this means that you shouldn’t see any increases in rates as typically fixed term mortgages are tied to the yields (returns) on Canadian bond prices. Also, no significant changes are expected for variable rate mortgages as it appears the statements made by the U.S Federal Reserve will push the Bank of Canada’s decision to increase our Bank of Canada benchmark rate a little further into the future.

 

As your Saskatoon mortgage professionals, it’s our responsibility to look at what’s happening in the Canadian mortgage landscape, Saskatoon mortgage rates and what’s happening in the USA,  so we can see how it affects you and your mortgage in Saskatoon.

The types of mortgage products we offer include:

  • Self Employed Programs
  • First Time Home Buyers MortgagePlan
  • Cash Back Mortgages
  • Secured Line of Credit
  • New Construction Mortgages
  • Rental Properties Mortgages
  • Government Grant Programs
  • New to Canada / Immigrant MortgagePrograms
  • Commercial Properties

Contact us today to arrange an appointment with a YML Mortgage Specialist.  We look forward to working with you to achieve your goals.

Chelsey Limay & Marcel Brossart are Your Mortgage link

Current Interest Rates
5 Year Variable2.30%
1 Year Fixed2.44%
2 Year Fixed2.54%
3 Year Fixed2.79%
4 Year Fixed2.94%
5 Year Fixed (High Ratio)2.79%
5 year Fixed (Uninsurable)2.99%
7 Year Fixed3.59%
10 Year Fixed3.74%
Home Equity
Line of Credit
3.70%

Rates are subject to change without notice. For the most current rates, call (306) 244-4663.