Markets are forging ahead this morning with broad based gains pushing every sector in the TSX into positive territory. There’s no hard data to point at, although promising comments from Greek and IMF officials as they continue their discussions are as good a reason as any. The headline report out of the US this morning showed housing starts falling to a three month low, although sifting through the fine print reveals building permits unexpectedly climbing to the highest level this year. Apple is extending its lead over Exxon as the world’s most valuable company after hitting a new all-time high yesterday and pushing further into record territory this morning. The company is now close to the size of Microsoft and Google combined. Other notable new highs in the US this morning include Visa and Dollar Tree. The TSX is up 159 pts. The Dow is up 131 pts.
The Canadian dollar is oddly off 16 bps to US$1.0085 despite the surge in risk appetite. Bond yields are steady at 1.45% for the 5-year Canada and 2.21% for the ten. Oil is up $1.44 to US$87.14/barrel. Gold is up $24 to US$1803/oz.
Lenders continue to reduce the discount available on variable rate mortgages. Many lenders are now offering prime minus .3% although there are still some at prime minus .7%.
Five year fixed term mortgages around 3.49% with some quick close options in the 3.29% range.
If you have any questions about your Vancouver mortgage please call me at 604-961-2400.
Have a great day.
