Mortgage Rates for Week of Dec. 1st

Rates are down!

The bond market is moving and creating room for lenders to bring down the longer term rates. This trend should continue for the next while and the Bank of Canada will step up and lower their rate on December 9th. Most think that a .5% drop is in the works. Keep floating while the long term rates come down further and then you can lock in, perhaps in the spring.

 

Term	Best	Bank Posted
1 year	4.35%	6.35%
3 year	5.15%	6.75%
5 year	5.10%	7.20%
10 year	6.10%	7.80%
25 year	6.75%	n/a

 

 

 

 

 

 

 

 

 

 

 

                 Bank Prime Rate 4.00%

 

Some lenders have reduced their variable mortgage rates slightly. This is a direct response to the government stimulus that as been injected into the credit markets. The credit freeze appears to be starting to thaw!

 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca