Mortgage Rate Update - June 23, 2009

Rates Steady...For Now

Interest rates are unchanged this week. The markets are suffering some losses from the gains of the last couple of weeks. The bond market (where lenders get their mortgage funds to lend out) is showing decreasing yields which takes the pressure off rates to increase. In fact there is some room to decrease the 5 year rate, but nothing yet.

The world bank is still forecasting economic doom and gloom. At home, the Real Estate market is quite brisk as record low rates and lower purchase prices are driving the rush. A number of people booked an interest rate in the last few weeks and they will need to buy their new place within 120 days, another push for an already hot market. Increases in prices across the board aren’t that far away and we’re already seeing it in hot market areas like Vancouver East and West side. 
 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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