Tuesday, October 16, 2007

Mortage Interest Rate Increases

A quick update on mortgage interest rates - most lenders announced rate increases today. There are still a few prime lenders who have held their rates but they are likely to follow the pack.


One of my most competitively priced lender will be increasing rates on Monday 9AM....the 5 year rate will increase by .25%. Clients who don't have a rate hold should obtain one during the weekend.


RATE UPDATE
October 12th, 2007


Prime Rate.6.25%
Variable Rate.Prime less .60%
1 year closed.5.60%
3 year closed.5.70%
5 year closed.5.60%*
7 year closed.5.78%*
10 year closed...5.85%*
25 year closed...6.70%


* for mortgage of $500,000 or greater; slightly higher rates for lower mortgage amounts
Information subject to change without prior notice. APR.E.&O.E.


Enjoy your day!
Mark


Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,


Mark


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
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FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com




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