Current Mortgage Interest Rates

Following yesterday’s Bank of Canada rate announcement, many mortgage lenders have lowered their prime lending rate to 5.25%.

Fixed rate mortgages remain stable.

Variable rate clients have benefited from this decrease - today’s best variable rate is 4.65%.

With it’s low rates, many borrowers are choosing the variable rate mortgage.

A few points to consider:

• Ability to switch to lenders fixed rate mortgage during term (without a penalty);
• Switching at ‘best rate’ vs posted rate;
• Mortgage payments - change with prime vs remain stable (make sure you have choice).

Please let me know how I can help you if you want me to put you in touch with lenders that offer these rates!

Mortgage Rate UPDATE
March 5th, 2008

Prime Rate………….5.25%
Variable Rate……….Prime less .60%
1 year closed……….5.20%
3 year closed……….5.85%
5 year closed……….5.69%*
7 year closed……….5.93%*
10 year closed………6.00%*
25 year closed………7.00%

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don’t hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

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›mark@mississauga4sale.com
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