| Wednesday, October 7, 2009 Mortgage Rate Update - Oct. 6, 2009by Lyn Hart on Wed, Oct, 7, 2009 01:44 AM
Try to Keep Up...
Rates are all over the place, changing almost everyday while lenders offer specials and deals on mortgages that fund within 30 days. The Bank of Canada is steady, which means that floating rates are still a great way to go.
The Australian Central Bank raised their rate today. There is speculation that this is the beginning of rates going up. There is no inflation on the horizon and so no real pressure for rates to go up here in Canada while the local Real Estate market continues to be very strong.
Bank Prime Rate 2.25%
|
Term |
Best |
Bank Posted |
|
1 year |
2.55% |
3.75% |
|
3 year |
3.35% |
4.65% |
|
5 year |
3.69%* |
5.85% |
|
10 year |
5.20% |
7.15% |
|
25 year |
9.25% |
9.75% |
*Strings attached to this rate!
Bold numbers denote change from last posted rates.
Variable mortgage from Prime...TODAY at 2.25%!
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