Rates Edging Down
Both the long term rates, based on the market, and the short term rates, based on the smaller spreads that lenders are charging, are edging downwards. The bond markets are pulling back from their enthusiasm of the last few weeks and bonds are down both here and in the USA. Floating mortgages continue to be a great option!
Bank Prime Rate 2.25%
|
Term |
Best |
Bank Posted |
|
1 year |
2.55% |
3.75% |
|
3 year |
3.49% |
4.65% |
|
5 year |
4.09% |
5.85% |
|
10 year |
5.45% |
7.15% |
|
25 year |
9.25% |
9.75% |
Bold numbers denote change from last posted rates.
Variable mortgage from Prime +.30...TODAY at 2.55%!
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