Jim Flaherty has indicated that his measures to slow the Canadian real estate market back in July 2008 have not worked and he may need to take additional measures to prevent another housing crisis. Back in July 08, Flaherty decided to raise the minimum down payment for buyers from 0% down to 5%. He also lowered the amortization of mortgages …
Mortgage Rate Update
Mortgage rates have eased slightly for both the fixed rates & the variable rate mortgages. The 5 year fixed rate has finally come back down below 4% to 3.99%. The variable has also moved down to prime (2.25%) plus .15% on a 3 year term & prime plus .20% on a 5 year term. The variable seems to be the …
Interest rates may be on the rise
If you have been considering buying a house, refinancing to see if it you can save money by lowering your monthly payments, or are interested in taking some equity out to pay for some renovations, pay for some upcoming large purchases, or even just to use that money to go on that much needed vacation, then now is the time …
Interest Rate Watch – May 15, 2009
Term Rate 6 Months 4.25% 1 Year 2.90% 2 Years 2.85% 3 Years 3.05% 4 Years 3.59% 5 Years 3.59% 7 Years 4.95% 10 Years 5.05% Prime 2.25% Variable 2.85% Let me help save you money! Send me your email address or give me a call and I’ll send you periodical interest rate updates, along with any other …
Interest Rate Watch – March 28, 2009
Term Rate 6 Months 5.00% 1 Year 3.25% 2 Years 3.79% 3 Years 3.99% 4 Years 3.94% 5 Years 3.99% 7 Years 4.95% 10 Years 5.25% Prime 2.50% Variable 3.30% Let me help you save money! Send me your email address or give me a call and I’ll send you periodical interest rate updates, along with any other market …
Interest Rate Watch – How Low Can They Go?
Interest Rate Watch – March 21, 2009 6 Months 5.00% 1 Year 3.25% 2 Years 3.79% 3 Years 3.99% 4 Years 3.94% 5 Years 3.99% 7 Years 4.95% 10 Years 5.25% Prime 2.50% Variable 3.30% Let me help you save money! Send me your email address or give me a call and I’ll send you periodical interest rate updates, along …
Variable vs. Fixed Rates
Bargain basement borrowing costs are prompting many Canadians to opt for fixed mortgages even though variable products continue to be a money-winning option for the foreseeable future, industry observers say. Canadian Imperial Bank of Commerce’s chief economist Benjamin Tal says variable rate mortgages should produce the greater benefit for the next two to 2.5 years, but be a wash over …
Interest Rate Watch – February 27
Term Rate 6 Months 5.00% 1 Year 3.90% 2 Years 3.90% 3 Years 4.00% 4 Years 4.09% 5 Years 4.19% 7 Years 5.70% 10 Years 6.05% Prime 3.00% Variable 3.80% If you would like me to send you periodical interest rate updates, please provide me with your email address so I can pass on the latest rate changes, along with …
Interest Rate Watch – February
Interest Rate Watch as of Friday, February 14, 2009 Term Rate 6 Months 5.20% 1 Year 3.89% 2 Years 3.99% 3 Years 3.75% 4 Years 4.19% 5 Years 4.19% 7 Years 5.90% 10 Years 6.35% Prime 3.00% If you would like me to send you periodical interest rate updates, please provide me with your email address so I can …
Interest Rate Watch
Interest Rate Watch If you read my previous post on the government’s $30 billion dollar stimulus package, you would know that we are experiencing some of the lowest interest rates in recent times. Click here to read about the interesting things the government is doing to help stimulate our economy. Term Rate 6 Months 5.20% 1 Year 3.50% 2 Years …