Market Rate Update - May 26, 2009

Market Heating Up!
Interest rates have basically stayed the same this week. There is a little bit of movement in the variable rates as some lenders have decreased. The 5 year bond rate is up…..this could put pressure on the 5 year rate to increase. Interest rates should continue to be low for a long period of time yet but we may be seeing the bottom of the five year rate. Locking in may be a good idea for some but each borrower should have a look at their existing rate and what the lock in rate would be. Is it worth having your payments go up? 
Bank Prime Rate 2.25%
Bank Posted
1 year
3 year
5 year
10 year
25 year
Bold numbers denote change from last posted rates. 
Variable mortgage from Prime +.60..TODAY at 2.85%!

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 22


Call Laura today and tell her Lyn sent you!


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