Friday, March 06, 2009

Mortgage Interest Rate announcement

Good Afternoon,

The banks followed the Bank of Canada lead yesterday and reduced their prime lending rate to 2.50%.
However, the banks have not announced rate decreases on fixed rate mortgages. It's not unusual for these changes to trickle in....almost as if they are all waiting for someone else to make the first move!

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*

Prime...............2.50%
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!

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
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