Toronto Mortgage Interest Rate Review May 20th

May 22, 2011


http://www.youtube.com/watch?v=pLbJAW_jXcU

This week I am seeing interest rates come down slightly keeping fixed rate mortgages low just below the 4% mark.  Lately I have been liking the 50/50 mortgages like the Merix lendwise mortgage where 50% of your mortgage balance is charged at 3.99% and the remaining 50% variable 2.35%.  Don’t see a rate? Want me to negotiate on your behalf with the bank? Contact me!
1 Year Fixed – 3.19%
3 Year Fixed – 3.52%
5 Year Fixed – 3.99% (120 day ratehold)

5 Year Fixed – 3.89% (Quickclose June 30th)

3 Year Variable P-.65 (2.35%)
3 Year Variable P-.80 (2.20%) High ratio only.

5 Year Variable P-.65 (2.35%)
50/50 Hybrid 3.17% (effective rate)

Prime Rate is currently 3.00%.
Bank of Canada Qualifying rate 5.69%
Rates are subject to change at the lenders discretion

Profile

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.