Buying a mortgage
is not a game BUT IT SHOULD BE FUN
NONETHELESS What a sweet time to be arranging a mortgage — we've got the lowest rates anyone can remember and they'll be around for months to come. MORE...
Commercial banks cut rates by 0.5%. MORE... |
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BEST MORTGAGE RATES
Updated 06/26/2009
2.55% - Variable Rate*
3.95% - 6 month closed
2.75% - 1 year fixed
3.05% - 2 year fixed
3.65% - 3 year fixed
4.09% - 4 year fixed
4.29% - 5 year fixed
5.35% - 7 year closed
5.25% - 10 year closed
All rates are subject to change without notice; OAC; E&OE.
Please call for updates. |
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The Globe and Mail April 23, 2009
So don't rush into any decisions regarding a new mortgage, a renewal or an existing mortgage you're thinking of breaking. The great recession mortgage sale isn't even close to being over.
The Bank of Canada has records going back to 1950 on average fixed-rate, long-term mortgage rates and the best deal was 5 per cent back in early 1950. Today's posted five-year mortgage rate at the big banks is 5.45 per cent - low, though not the lowest. But discounted five-year rates today are commonly under 4 per cent, which suggest the best on record. |
Ottawa Sun March 4, 2009
The Bank of Canada slashed its key short-term interest rate almost as low as it can go yesterday and said it may need to resort to extraordinary measures to rescue the economy from a recession that is deeper than previously believed.
Canada's commercial banks quickly followed suit, cutting their prime rates to 2.5%, effective today.
The central bank did what most private-sector economists had advised, cutting the trend-setting overnight rate half a percentage point to an all-time low of 0.5%. |
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Copyright © 2003-2009 Kevin Suddaby, Accredited Mortgage Professional. All rights reserved. email us |
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