| TERM | POSTED | Achievable RATES* |
| 6 Month | 6.20% | 6.20% |
| 1 Year | 6.35% | 4.35% |
| 2 Year | 6.70% | 5.35% |
| 3 Year | 7.05% | 5.49% |
| 4 Year | 7.04% | 5.69% |
| 5 Year | 7.20% | 5.59% |
| 7 Year | 7.65% | 6.20% |
| 10 Year | 8.00% | 6.40% |
| Variable Rate | 4.75% | |
| Prime Rate | 4.00% | |
Hello,Hello,
The mortgage market has changed dramatically, due to the financial turmoil.
Hopefully we can get through it in near future.
Please see the following up-to-date rates.
5-year closed fixed rate: 5%-4.95%, depends on mortgage amount. With big amount, it might be even lower.
Variable rate 5 year closed: Prime rate (4%).
For those of you who would like to wait for variable rate to drop, you may wish to take short-term fixed rate first.
Limited time Promotions that I have seen
: 6-month fixed rate: 4.35% or 1-year fixed rate: 4.29%
All the best,
Mark
Existing Home Sales
— The jump in September existing home sales — up 5.5% m/m — was a surprise. Excluding condos, the increase was even greater, coming in at 6.2%
m/m, the largest since early 2002. The glut of unsold, single-family homes decreased by 6.0%, lowering months supply to 9.4. Adding multi-unit dwellings, the month’s supply rises to 9.9, still high by historical standards.
Home values and prices continue to trend lower; both the median and average price of single family homes fell by over $10,000 last month.
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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
