Lower Rates Fuel Market
Interest rates this week continued to ease on down. There is a 5 year term at 3.59% this week with others in the range of 3.69% to 3.79% depending on the type of mortgage a borrower requires. People are rate shopping and should be paying attention to the guidelines that will affect their future mortgage happiness, along with the rock bottom rates that will affect their bottom line. Variable mortgages are still a great bet.
Bank Prime Rate 2.25%
|
Term |
Best |
Bank Posted |
|
1 year |
2.90% |
4.20% |
|
3 year |
3.15% |
4.90% |
|
5 year |
3.59% |
5.45% |
|
10 year |
5.25% |
7.15% |
|
25 year |
9.15% |
9.75% |
Bold numbers denote change from last posted rates.
Variable mortgage from Prime +.75%...TODAY at 3.00%!
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