|
|
Bank Prime Rate 4.00% |
|
|
Term |
Best |
Bank Posted |
|
1 year |
4.49% |
6.35% |
|
3 year |
5.25% |
7.05% |
|
5 year |
5.69% |
7.20% |
|
10 year |
6.10% |
8.00% |
|
25 year |
6.75% |
n/a |
No real changes in interest rates this week. The Bank of Canada will meet again on December 9th and the expectation is for a decrease in the rate. Inflation concerns are cooling all over the world and central banks are committed to lowering rates to keep things moving.
The Canadian Real Estate values are projected to drop by about 5% in the next year creating more opportunities for buyers and investors. Speculation is that this will create a healthy market as prices come back into the realm of affordable. If you are in a variable mortgage…..keep floating!
Courtesy of
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