Residential Mortgage Rates
Effective January 23, 2020
|
Term (Fixed) |
PURCHASES and REFINANCES (25-year amortization) |
RENTAL properties |
|
1 Year |
3.44% |
3.59% |
|
2 Year |
3.14% |
3.29% |
|
3 Year |
3.09% |
3.24% |
|
4 Year |
3.14% |
3.29% |
|
5 Year |
3.04% - 3.29% |
3.24% |
|
5 Year (High Ratio Purchase) |
2.79% |
N/A |
|
7 Year |
3.54% |
3.69% |
|
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 RATE REMAINS UNCHANGED
Bank of Canada keeps their overnight rate "as is" once again. This is great news for those clients with a VRM (variable rate mortgage) and any consumer debt with the interest rate based on the prime rate.
For those who like to keep their eye on the Bank of Canada interest rate announcements, here are the announcements dates for 2020:
- March 4, 2020
- April 15, 2020
- June 3, 2020
- July 15, 2020
- September 9, 2020
- October 28, 2020
- December 9, 2020
Congratulations Leslie B.! You are the lucky winner of the $50 gift card to Shoppers Drug Mart.
Be sure to check next week and find out how to win $50 gift card to Winners!
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
