| Wednesday, June 9, 2010 Mortgage Rate Update - June 8, 2010by Lyn Hart on Wed, Jun, 9, 2010 12:27 AM No Surprise Hikes.
Not much movement with interest rates this week. All lenders raised their prime rate last week with the Bank of Canada...but we were all ready for that move. The bond market has left room for lenders to bring down their longer term rates. The 5 year rate could come down by another .5%. The Banks are charging 4.49% for their 5 year rate while others are willing to discount further. Low rates are here for awhile longer. Still a great time to keep floating!
Bank Prime Rate 2.25%
|
Term |
Best |
Bank Posted |
|
1 year |
2.64% |
4.35% |
|
3 year |
3.75% |
4.60% |
|
5 year |
4.19% |
5.99% |
|
10 year |
5.25% |
7.05% |
|
25 year |
9.30% |
9.65% |
Bold numbers denote change from last posted rates.
Variable mortgage from Less Than Prime...TODAY at 1.90%!
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