January 20, 2009 - Nothing but GREAT news today! The Bank of Canada has dropped their rate by .5% to the lowest rate in history, and the Banks are passing on the drop. Prime rate is now at 3%...Keep Floating!
Longer term rates are edging down and will keep on this trend. The Real Estate market appears to be heating up with strong numbers heading to open houses and reports of competing offers.
Bank Prime Rate 3.00%
|
Term |
Best |
Bank Posted |
|
1 year |
3.99% |
5.60% |
|
3 year |
4.64% |
6.25% |
|
5 year |
4.49% |
6.75% |
|
10 year |
6.10% |
7.55% |
|
25 year |
9.75% |
n/a |
Variable mortgages from prime plus .60%
Bold numbers denote change from last posted rates.
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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