Steady As She Goes.
Another week of positive news regarding Canadian Real Estate and general confidence. All central banks are cautioning that the recovery will be slow and long. All expect to keep rates down for an extended period of time. In Britain they do not see inflation for the next 5 years (inflation causes rates to rise). The USA is also downplaying a speedy recovery and, in fact, we are still seeing a decline in many parts of their economy.
Low rates and a busy market with prices solid and potentially going up. Still a fantastic time to purchase or refinance an existing mortgage.
Bank Prime Rate 2.25%
|
Term |
Best |
Bank Posted |
|
1 year |
2.65% |
3.75% |
|
3 year |
3.55% |
4.65% |
|
5 year |
4.19% |
5.85% |
|
10 year |
5.50% |
7.15% |
|
25 year |
9.15% |
9.75% |
Bold numbers denote change from last posted rates.
Variable mortgage from Prime +.30...TODAY at 2.55%!
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Call Laura today and tell her Lyn sent you!
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