More Tweaks to Rates
Small downward changes in rates this week. The yields on bond market, where lenders go to get their funds for mortgages, are dropping. Long term rates are under pressure to drop accordingly. This trend will continue along with the decreases ahead by the Bank of Canada. The interest rate news is all great this week. Keep floating!
Bank Prime Rate 3.50%
|
Term |
Best |
Bank Posted |
|
1 year |
4.35% |
5.60% |
|
3 year |
5.10% |
6.25% |
|
5 year |
4.80% |
6.75% |
|
10 year |
6.10% |
7.55% |
|
25 year |
6.75% |
n/a |
Bold numbers denote change from last posted rates.
There is a great deal of political pressure on the Banks to pass along all of Bank of Canada interest rate cuts. Watch in the days ahead, with change to the US Leader and our own Leader facing economic and political challenges, that rates will have more downward pressure.
Courtesy of
Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 222
www.mortgagecents.ca
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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