Rates remain low! Surrey, BC - August 27, 2009 - Prime remains at 2.25% and looks to stay there until at least mid 2010, while fixed rates have slowly dropped back down as expected, with a 5 year fixed discounted rate in the 4.10-4.20% range.
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 + .40% (2.65%) now, and a few in the Prime + .15-.30% (2.40% - 2.55%). 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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You'll flip over it! 
Refer a friend to us for mortgage advice and you & your friend will enter the draw for a new Flip video camera! You can also enter by sending us or appearing in a video testimonial for our new website! Contest
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