Mortgage interest rates have remained pretty stable over the last week and there are no signs of any changes to come. It looks as though the trend is downwards as the majority of lenders have begun to adjust their fixed 5 year rates to match the most competitive rates in the market. Given the economic outlook variable rate mortgages may be a good choice.
Chris Molder – Son Of A Broker
1 year fixed – 2.65%
3 year fixed – 3.50%
5 year fixed – 3.89%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.25% (2.00% effective rate)
5 year fixed – 3.75% (must close by Feb 23rd 2010, purchase & refinance only)
3 year variable Prime-.30% (1.95% effective rate closing in 30 days, purchases & refinance only)
NOTE: Rates are subject to change without warning at the lender’s discretion.
Licensed by the Financial Services Commission of Ontario under Lic#M08010066