Monday Mortgage Minute – Dec 7th 2009

December 7, 2009

Mortgage interest rates in Toronto have stayed fairly steady over the past week despite the increase to bond yields last Friday. Tomorrow the Bank of Canada will decide on whether to increase the prime rate. There is unanimous consent among economists that the prime rate will remain unchanged however it will be interesting to see what economic data the Bank of Canada will release with their decision. The data may impact fixed rate mortgages.  If you don’t see a rate that you are looking for or have a specific mortgage question email me here.
1 year fixed – 2.60%
3 year fixed – 3.49%
5 year fixed – 3.99%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.10% (2.15% effective rate)
5 year fixed – 3.89%

3 year variable Prime-.25% (2.00% effective rate closing in 30 days, purchases & refinance only)
DISCLAIMER: All rates are subject to change at any time without notice.


Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.