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.

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Debt servicing ratios (GDS / TDS ratios)

Debt servicing ratios are the ratios used to calculate debt owed by someone looking to obtain a mortgage.

Gross Debt Service Ratio (GDS): The percentage of the borrower’s income that is needed to make all payments for costs associated with housing. There is a maximum amount associated with this ratio to ensure that borrowers can afford to carry the debt.

Total Debt Service Ratio (TDS): The percentage of gross monthly income required to cover the monthly housing payments and other debts, such as car payments. Essentially debt payments. The max TDS is generally 40-42% for a conventional mortgage and up to 44% for a high ratio mortgage when a client has excellent credit.