Residential Mortgage Rates*
Effective April 10, 2008*
|
Term |
6 Month |
1 Year |
2 Year |
3 Year |
4 Year |
5 Year |
7 Year |
10 Year |
Variable |
Prime |
|
Posted Rates* |
6.95% |
7.15% |
7.20% |
7.20% |
7.04% |
7.19% |
7.45% |
7.95% |
||
|
Best Rates* |
6.25% |
4.99% |
5.40% |
5.40% |
5.40% |
5.35% |
6.00% |
5.85% |
4.00% |
5.25% |
*Interest Rates are provided for information purposes only and are subject to change at any time without notice. The products listed above are available only in Canada to Canadian residents. Rates shown are for single family residential properties only and are subject to meeting all lenders credit granting criteria. Rates shown above may be specific to the sender and some conditions may apply. E&OE.
Hi Again,
Watch for further rate drops on April 22nd when the Bank of Canada meets again. Variable mortgages will likely drop by another .25% ... while fixed rate will not likely change much.
The studies from CMHC have indicated that growth in our real estate market is still there ... unlike the double digit appreciation we have had in the last 5 years, they are expecting a few percentage points increase in properties values which is considered more normal growth. Also note, there have been studies lately indicating that Canada is one of the very few countries where property values are still undervalued!