The banks followed the Bank of Canada lead yesterday and reduced their prime lending rate to 2.50%.
These are the latest rates, I hope to be able to communicate some further decreases within the week.
Please call if you have any questions, or if I can help you in any way.
Best rates as of March 4th, 2009*
Variable............Prime plus .80%
1 yr closed.......3.50%
2 yr closed.......3.90%
3 yr closed.......4.00%
4 yr closed.......4.14%
5 yr closed.......4.19% (over $500K; under $500K rate is 4.29%)
7 yr closed.......5.90%
10 yr closed.....6.05%
*Rates subject to change without notice
I hope this finds you Happy and Healthy!
All the Best!
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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