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Home Mortgage Rates

Term Rate
Prime 3.00%
Variable 2.35%
1 Year 2.89%
3 Year 2.64%
4 Year 2.77%
5 Year 2.89%
10 Year 4.29%

Qualifying Rate

Oct 14 4.79%

Current Inflation

Oct 2.1%

5 Year Bond Yield

Oct 14 1.45%

Next Bank of Canada Meeting
April 16th, 2014

 

Special conditions apply

Mortgage Rates subject to change.

Next Bank of Canada Meeting
April 16th, 2014

 

Special conditions apply

Mortgage Rates subject to change.

Special conditions apply
Mortgage Rates subject to change.


LTV (loan to value)

Loan-to-value ratio (LTV) is the amount of the mortgage loan (liability) compared to the value of the property. This ratio is calculated by the lender prior to providing the loan. The results of this calculation help to determine whether or not the applicant will qualify for a loan and whether the application, if approved, will be for a conventional loan or a high ratio loan. This ratio is calculated by the lender prior to providing a mortgage. The results of this calculation help to determine whether or not the applicant will qualify for a loan and whether the application, if approved, will be for a conventional loan or a high ratio loan.

Here is an example if you are putting 5% down on a purchase, the LTV would be 95%.

(Source:  CAAMP & Jessi Johnson)