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Home Mortgage Rates
| Term | Rate |
| Prime | 3.00% |
| Variable | 2.90% |
| 1 Year | 2.89% |
| 3 Year | 2.69% |
| 4 Year | 2.95% |
| 5 Year | 3.09% |
| 10 Year | 3.89% |
Qualifying Rate
| Feb 3 | 5.29% |
Current Inflation
| Dec | 2.3% |
5 Year Bond Yield
| Feb 3 | 1.36% |
Next Bank of Canada Meeting
Mar 8th, 2012
Special conditions apply
Mortgage Rates subject to change.
media section
Oct
29
CBC radio interview with Mark Forsythe
Posted in: Media · Radio
This four minute interview with Mark Forsythe from CBC radio discussed the twenty-five billion dollar security purchased orchestrated by the CHMC (Canadian Mortgage and Housing Corporation) for the purchase of Mortgage Securities. Unfortunately I wasn’t able to get an audio recording but the interview went well (my opinion). I argued that this was an excellent decision and would prove to be financially beneficial for CMHC, and hens the Canadian government. To break it down, CMHC (government funding) was going to purchase twenty-five billion worth of mortgages from various lenders. The goal was to free up funds and assist the credit crunch. These mortgage essentially were auctioned off, but to the lowest bidder. Who-ever was willing to take the largest cut to free up the funds would prevail, so to speak. CMHC would then profit from the interest differential and discounted mortgage balances. Remember, people are now paying them interest. If they (CMHC) borrow the money from themselves, as governments typically do, the interest rate they would charge themselves would be far less then interest earned on the mortgages purchased.
To view my vblogs on the topic:
Episode 35 – 25 billion security purchase
Episode 38 – A wonderful government program
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