Residential Mortgage Rates
Effective December 5, 2019
|
Term (Fixed) |
PURCHASES and REFINANCES (25-year amortization) |
RENTAL properties |
|
1 Year |
3.19% |
3.34% |
|
2 Year |
2.89% |
3.04% |
|
3 Year |
2.89% |
3.04% |
|
4 Year |
2.94% |
3.09% |
|
5 Year |
2.89% - 3.29% |
3.14% |
|
5 Year (High Ratio Purchase)
5 Year (High Ratio Special) |
2.74%
2.64% |
N/A
** Must close by Dec. 31, 2019 |
|
7 Year |
3.34% |
3.49% |
|
10 Year |
3.70% |
3.85% |
|
Term (VRM) |
|
|
|
5 Year |
P - 0.50% - P - 1.00% |
Prime - 0.50% |
|
3 Year |
Prime + 0.15% |
N/A |
Rates are subject to change without notice.
* OAC, E, & OE
|
Prime Lending Rate |
3.95% |
|
Benchmark Rate |
5.19% |
BANK OF CANADA HOLDS INTEREST RATES STEADY
The Bank of Canada once again held its overnight rate "as is". The key interest rate has been unchanged for more than a year now. For those with a variable rate mortgage or any consumer debts based on the prime lending rate, this is good news for you as the rates will remain the same.
The next interest rate decision is set for January 22, 2020.
WIN A $50 GIFT CARD TO ESSO
This month we are giving away a $50 gift card to Esso. To enter our monthly draw simply send an email to [email protected] and we will enter your name in the draw. The winner will be selected at random on Thursday, December 19th, 2019. Good luck everyone!!
HAVE MORTGAGE QUESTIONS? WE'RE HERE TO HELP YOU!
Please feel free to contact us with any questions you may have. It would be a pleasure to assist you or anyone of your friends or family members!
(604) 313-3199
