Prime Rate Remains Unchanged – Best Rates Mortgages

By: Robert Clancy Mortgages & Interest Rates

Bank of Canada Governor Mark Carney kept his benchmark interest rate at 1 per cent Tuesday, saying threats to the global recovery have increased, expressing concern about the rebound for Canadian exports and reiterating that further rate hikes would have to be “carefully considered.”

Current Mortgage prime/variable rate is at 3.00% with consumers receiving .70% to .80% of a discount. With rate hikes not expected in the near future the variable rate mortgage is still a very good option for your mortgage financing needs.

Today’s Interest Rates

In todays Mortgage Financing Market mortgage rates are changing constantly. Today mortgages rates are based on so many different variables, it is impossible for an adviser to give a true rate quote without actually reviewing the borrower’s application first.

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BANK RATES	TERM	OUR RATES
3.89	1-YEAR	3.04
3.89	2-YEAR	2.89
3.39	3-YEAR	2.89
3.89	4-YEAR	2.89
5.34	5-YEAR	2.54
6.00	7-YEAR	3.95
6.10	10-YEAR	3.95
5.34	Variable (3yr-closed)	3.30
5.34	Variable (5yr-closed)	2.95
5.34	Variable(Open)	4.45

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