Fixed Rates:
Have gone up.
5 year term fixed rates range from 3.94% to 4.09% depending on "real deal" vs pre-approval, size of mortgage, and length of time until closing.
Variable Rates:
Have gone down a little.
5 year variable rate 2.20% (prime minus 0.80%)
3 year variable rate 2.15%
The rate used by lenders to qualify borrowers has gone up from 5.19% to 5.39%
Mortgage Term | Best Mortgage Rate (as low as...) |
1 Year | 2.54% |
3 Year | 3.70% |
4 Year | 3.89% |
5 Year | Fixed - 3.94%
Variable 5 Year- 2.20% (Prime - 0.80%) |
7 Year | 5.10% |
10 Year | 5.40% |
Prime Rate | 3.0% |
Mortgage rates subject to change without notice.
Lowest rate depends on closing date, CMHC or conventional, owner occupied and mortgage amount.
If you have any questions about mortgage and interest rates, call
Alexandre Malkhassiants, Sales Representative and Mortgage Specialist
Right at Home Realty Inc., Real Estate Brokerage
Office: (416) 391-3232
Cell: (416) 723-9383
E-mail: amalkhass@rogers.com
Website: Toronto real estate
Website: Ontario real estate
Blog: Lowest Canada mortgage rates