Saturday, December 13, 2008

Banks are aggressively pricing their 1 and 5 year closed terms

The banks have been posting adjustments to their rates during the past few days. Many seem to be aggressively pricing the 1 & 5 year closed terms.

The next Bank of Canada rate announcement is scheduled for January 20th, 2009.

The lenders continue to offer rate holds, in many cases up to 120 days. If you are looking at properties, I strongly suggest that you arrange a preapproval / rate hold.

It's also a great opportunity for you to learn more about mortgage options - you'll have a chance to digest the information & it will simplify the process when you have an offer to purchase on the table.

You can become pre-approved with no cost or obligation.

Posted Interest "BEST" Rates
December 12, 2008

Prime................3.50%
Variable rate....Prime plus .60%
1 yr closed........4.35%
2 yr closed........5.05%
3 yr closed........5.15%
4 yr closed........4.89%
5 yr closed........4.99%
7 yr closed........5.80%
10 yr closed......6.10%

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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

Homes for Sale

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