Bank of Canada Drops Rates - Prime at 2.5%!
The major lenders have followed. If you are in a variable mortgage, stay in it! If your mortgage is in a fixed term and you have equity in your home, you might consider a refinance. Check your home value by your latest tax assessment value and talk to your mortgage specialist.
The Real Estate market is moving with further stimulus expected from the government. Historic low rates and prices down by 10-20%.....an amazing time to buy! For first-time buyers this is an unexpected opportunity.
Bank Prime Rate 2.50%
|
Term |
Best |
Bank Posted |
|
1 year |
3.50% |
5.00% |
|
3 year |
3.99% |
5.55% |
|
5 year |
4.19% |
5.79% |
|
10 year |
6.00% |
7.35% |
|
25 year |
9.15% |
9.75% |
Bold numbers denote change from last posted rates.
Variable mortgage from Prime + .80%...TODAY at 3.30%!
Courtesy of
Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca
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