Record Low Rates
Interest rates have continued to fall this week to unprecedented levels. It is common to see 3.85% for a 5 year term now. See below for other terms.The Bank of Canada is set to meet again on April 21st and there are no certainties regarding a rate adjustment. There’s a lot of talk surrounding the Bank resorting to the printing of more money to help the economy instead of dropping rates further.
Bank Prime Rate 2.50%
|
Term |
Best |
Bank Posted |
|
1 year |
3.25% |
4.50% |
|
3 year |
3.69% |
5.15% |
|
5 year |
3.85% |
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 + .80%...TODAY at 3.30%!
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