The bond rate continued to drop the past week. It’s now at the lowest level in 2010. Weak economic news from around the world has been the main driving force. If this continues to stay in these ranges, I expect the Bank of Canada may halt the projected increases in prime rate.
The recent drop in fixed rates will cause penalties to increase due to higher interest rate differentials. If you are refinancing or breaking your current mortgage, make sure you re-check your penalties now.
Fixed rate mortgages today are running from 3.87-4.09%.
The recent drop in fixed rates will cause penalties to increase due to higher interest rate differentials. If you are refinancing or breaking your current mortgage, make sure you re-check your penalties now.
Fixed rate mortgages today are running from 3.87-4.09%.
Variable rate mortgages are running from prime less 0.60-0.70%, depending on terms
Bank Prime is at 2.75%.
Next meeting of the Bank of Canada is September 8th, 2010