Latest Best Mortgage rates

[dougboswell]

Hey Matt; If you visit www.ratespy.com you will see 5 year fixed as low as 2.33% and variables as low as 1.94%!

[tjthemanto]

Bank of Canada reduced the rate again today , its 0.5 % now

what are they going to be at 0 % by the end of the year ..I remember japan had some rate like that, when they were in recession.

even BOC admitted Canada is in full recession today

[Colsgirl]

Bank of Canada reduced the rate again today , its 0.5 % now

what are they going to be at 0 % by the end of the year ..I remember japan had some rate like that, when they were in recession.

even BOC admitted Canada is in full recession today

It will be interesting to see how much of that is passed on?

[MortgageQueen]

TD has dropped their rate by an IMMENSE ".1%"

No need to pass any savings to customers when it can go to shareholders. . . .

[Colsgirl]

TD has dropped their rate by an IMMENSE ".1%"

No need to pass any savings to customers when it can go to shareholders. . . .

We have so little time left (and so little interest to pay) that saving wouldn't even buy us a cup of coffee

[MortgageQueen]

Many Lenders have dropped their prime to 2.7% That seems to be the consensus. So lots of them are offering just below 2%. . . .usually 1.95% for variable.
I'm looking forward to another drop in my payment.

[brunt]

TD has dropped their rate by an IMMENSE ".1%"

No need to pass any savings to customers when it can go to shareholders. . . .

I have no great love of the banks (I don't particularly like them more than any other industry, but don't particularly dislike them more either), but I don't see the problem here.

The Bank of Canada lowered the overnight rate by 0.25%. The banks are loaning the money out for years. The bank is at risk should interest rates rise, especially the fixed rates, and thus, they can only risk lowering their rates by a portion of the overnight rate.

[MortgageQueen]

The problem is they only shared a portion of the rate cut in BOTH drops. I understand they are loaning money for years but this rate mainly affects variable which will then fluctuate with the rate next time it changes.

There have been no changes in fixed rates. If we take a look at banks annual profits, I think we can see they're well beyond any risk factor. Unlike the rest of businesses in this poor economy, the banks continue with record profits. . .
I'm not against anyone making profits. I'm just a tad annoyed over the blatant greed.

[bobbyreyes]

Thanks for sharing the information. A person looking for fixed interest rates can also consult with Canadalend.com to get the best deal.

[dougboswell]

Thanks for sharing the information. A person looking for fixed interest rates can also consult with Canadalend.com to get the best deal.

Canadalend.com needs to update their rates. The 5 year 2.69% shown is about .3% too high!

[MortgageQueen]

Special on HELOC (Home Equity Line of Credit) now at 2.95%.
Nice to see it below 3%.

[jasperandchar]

any new rates?

[MortgageQueen]

The rates are aprox. in the 2% range for variable and mostly 2.59% in fixed.
That said, you could take a "discounted" or "basic" rate pkg. with limited options/services. But I don't generally recommend it. The difference in rate is generally not worth what you have to give up.

[beachdown]

Ah....but that will make the banks human then won't it? lest we forget that banks are a representation of the population, so in essence we are just blaming each other. We all know people who want something for nothing...right?

The problem is they only shared a portion of the rate cut in BOTH drops. I understand they are loaning money for years but this rate mainly affects variable which will then fluctuate with the rate next time it changes.

There have been no changes in fixed rates. If we take a look at banks annual profits, I think we can see they're well beyond any risk factor. Unlike the rest of businesses in this poor economy, the banks continue with record profits. . .
I'm not against anyone making profits. I'm just a tad annoyed over the blatant greed.

[MortgageQueen]

Ah....but that will make the banks human then won't it? lest we forget that banks are a representation of the population, so in essence we are just blaming each other. We all know people who want something for nothing...right?

There are many levels of humanity. I prefer to think I am not sharing that space with banks. . . .