Bank of Canada leaves Prime alone...again! Surrey, BC - July 21, 2009 - The Bank of Canada did what was expected and left Prime alone, stating their intention to continue this way until mid 2010 at least. Fixed rates have been dropping over the last few weeks as we expected and will continue to do so over the summer.
Variable rate mortgage products continue to make the most sense even in this environment, and we are seeing some more competition amongst lenders, with most at Prime + .60% (2.85%) now, and a few in the Prime + .25-.40% (2.50% - 2.65%). The Best 5 year discounted rates have slid back to the 4.24 - 4.34% range. If you are in a variable currently, our advice is to try to remain there, as you are saving significantly over a fixed rate.
As always, having a Mortgage Strategy in place is always the best plan!
Call us for a no obligation review at anytime.
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Our summer contest is finally here...
You'll flip over it!
The often delayed contest is finally ready to launch, and we are happy to report that it can be seen on video by clicking here: Contest
For full contest details send us an email and we will send you the details. Click the email link and type "Contest" at the top and we will send them to you. Email |
