Friday, March 07, 2008

Current Mortgage Interest Rates


Following yesterday's Bank of Canada rate announcement, many mortgage lenders have lowered their prime lending rate to 5.25%.


Fixed rate mortgages remain stable.


Variable rate clients have benefited from this decrease - today's best variable rate is 4.65%.


With it's low rates, many borrowers are choosing the variable rate mortgage.

A few points to consider:


  • Ability to switch to lenders fixed rate mortgage during term (without a penalty);
  • Switching at 'best rate' vs posted rate;
  • Mortgage payments - change with prime vs remain stable (make sure you have choice).

Please let me know how I can help you if you want me to put you in touch with lenders that offer these rates!


Mortgage Rate UPDATE
March 5th, 2008


Prime Rate………….5.25%
Variable Rate……….Prime less .60%
1 year closed……….5.20%
3 year closed……….5.85%
5 year closed……….5.69%*
7 year closed……….5.93%*
10 year closed……...6.00%*
25 year closed……...7.00%



Read more about Interest Rates


Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com



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