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.

start your mortgage

Mortgage interest rate update

For those who follow the VRM:

The Bank of Canada is meeting this coming Tuesday December 8th for the last time in 2009. We don’t anticipate any change in the over night lending rate which is currently at 0.25%. Once inflation starts to kick in, this will certainly increase but until then we are safe. Ideally inflation is kept at 2% but the current rate of inflation clocked in at 0.1% for October 2009.

For those who follow the fixed rates:

The bond yield has been on the decline over the past few weeks however recently had a large spike. Generally good economic news will cause the bond yield to increase. Canada added 79,000 jobs in November which would certainly be considered good news. This probably caused the bond yield to spike by 0.14% to 2.53%.

 

Comments currently closed!