Posts Tagged ‘prime rate

No indication of rates increase as the rates sit tight at 3.19% for 5 year fixed mortgages. The lowest in Canada’s history. I would urge everyone to lock their mortgages now to take advantage of these low rates before the Bank of Canada will start increasing the prime rate again. Rates: 1yr 2.89% 2yr 2.99% […]

Rates: 1yr 2.44% (0.00%) 2yr 3.09%% (+ 0.05%) 3yr 2.90% (- 0.54%) 4yr 3.79% (0.00%) 5yr 3.69% (- 0.10%) 3yr variable closed (Prime – .75%) = 2.00% 5yr variable closed (Prime – .65%) = 2.10% Although we still experience a decline in mortgage rates be prepared for the prime rate to go higher before the […]

Two of Canada’s biggest lenders have cut their posted fixed mortgage interest rates, and economists predict rates may drop even further. The Royal Bank of Canada led the charge, announcing yesterday that its five-year lending rate would be cut to 5.59%, down a tenth of a percentage point. The Bank of Montreal quickly followed suit, […]

1yr 2.54% ( 0.00%) 2yr 2.95% (-0.10%) 3yr 3.49% ( 0.00%) 4yr 4.09% (-0.05%) 5yr 3.99% ( 0.00%) 3yr and 5yr variable closed (Prime – .60%) = 1.90%

The Central Bank announced a .25 per cent cut to its overnight lending rate today in reaction to the slowdown in the US economy, with the major banks quickly falling in line. The prime lending rate now stands at 5.75%, and further cuts are expected to follow as the global economy responds to the US […]

Yesterday’s announcement of a cut to a key US interest rate is unlikely to be mirrored in Canada, say financial experts, as the loonie soars and the Canadian housing market holds strong. The U.S. Federal Reserve announced a half-point cut to its federal funds rate on Tuesday, in hopes of avoiding a nation-wide recession. The […]


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