| Thursday, November 27, 2008 Mortgage Rates for Week of November 24thby Lyn Hart on Thu, Nov, 27, 2008 01:56 PM Finally we are seeing the crack in the wall that has prevented the longer term rates to come down. The US Government is now investing directly in mortgage backed financing which will free up rates on mortgages. The problem has been that the actions taken thus far were not filtering down to the consumer. Similar actions taken by our government will see 5 and 10 year rates coming down. December 9th the Bank of Canada will meet and lower rates, expect a .25% or .50% drop. Keep floating.
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Term |
Best |
Bank Posted |
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1 year |
4.35% |
6.35% |
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3 year |
5.15% |
7.05% |
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5 year |
5.55% |
7.20% |
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10 year |
6.45% |
8.00% |
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25 year |
6.75% |
n/a |
Bank Prime Rate 4.00%
Courtesy of
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