Greetings from the poolside! I couldn’t stand the thought of being cooped up in the office with this historic summer day in Toronto, so here’s a heatwave edition of the mortgage interest rate review. Conveniently all of my gadgets are working and I like the idea of doing this mobile office more often. Rates seem to be settling down and the expected July Bank of Canada prime rate hike never precipitated as the BOC remains cautious about making any changes to a fragile economy. If you’d like to talk rates with me you can get in touch with me here, or give me a call 416.461.0204. Remember my service doesn’t cost you!
Current rates:
1 Year Fixed – 3.19%
3 Year Fixed – 3.52%
5 Year Fixed – 3.64%
3 Year Variable P-.65 (2.35%)
3 Year Variable P-.80 (2.20%) High ratio only.
5 Year Variable P-.95 (2.10%)
50/50 Hybrid 3.04% (effective rate)
Prime Rate is currently 3.00%.
Bank of Canada Qualifying rate 5.52%
