Monday Mortgage Minute – January 18th 2010

January 18, 2010

Toronto mortgage interest rates have taken a definite U turn from the direction predicted by economists at the beginning of the year. It looks like low interest rates may be here to stay for a while longer. I can currently offer a 5 year fixed at an unprecedented low rate of 3.75% subject to lender restrictions. However it is a very clear indication of where rates are headed. Last week some conservative lenders had increased their fixed 5 year rate to 4.50% but were quick to reverse that decision. If you don’t see a rate here or have any questions please contact me.
Chris Molder – Son Of A Broker
1 year fixed – 2.30%
3 year fixed – 3.45%

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.


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.