Mortgage interest rates have remained unchanged from last week. Although some lenders have increased their rates, the majority have opted not to buy into the hype created by the markets and held off on increasing rates this week. While lenders are still warning us of immanent rate increases nothing will budge until it is clear if jobs are being created both in Canada and the US. If you have questions about the relation between fixed rate mortgages and the economy get in touch with me to discuss.
1 year fixed – 2.65%
3 year fixed – 3.29% (must close before March 31st 2010)
5 year fixed – 3.99%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.20% (2.05% effective rate)
5 year fixed – 3.89%
3 year variable Prime-.25% (2.00% effective rate closing in 30 days, purchases & refinance only)
NOTE: Rates are subject to change without warning at the lender’s discretion.