Interest rates have edged slightly lower this week. The fixed terms are adjusting as lenders and Government forces attempt to get interest rates to a level that will stimulate borrowing.
Bank of Canada next meets on March 3. Expectations are that there will be more decreases in the rate that affects prime rate and variable mortgages.
Bank Prime Rate 3.00%
|
Term |
Best |
Bank Posted |
|
1 year |
3.50% |
5.00% |
|
3 year |
4.50% |
5.55% |
|
5 year |
4.39% |
5.79% |
|
10 year |
6.00% |
7.35% |
|
25 year |
9.15% |
9.75% |
Variable mortgage from Prime + .80%
Bold numbers denote change from last posted rates.
Courtesy of
Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
Comments:
Post Your Comment: