Title

Mortgage Rates Today

Mortgage rates are still very attractive

The Bank of Canada will probably keep its benchmark interest rate at a record low tomorrow and repeat a pledge to leave it unchanged through June.

Low mortgage rates helped push existing home sales to a record in December. Importantly a 19 percent jump in home prices over the past year hasn’t pushed the inflation rate above the central bank’s target. Bank of Canada Adviser David Wolf said in a speech last week it’s “premature” to conclude there’s a bubble in the housing market, and a rate increase to slow it would “be dousing the entire Canadian economy with cold water, just as it emerges from recession.”

Such great mortgage rates make it a great time to buy a home.

Term
6 Month      3.85%
1 YEAR        2.35%
2 YEARS     2.95%
3 YEARS     3.25%
4 YEARS     3.85%
5 YEARS     3.79%
7 YEARS     5.25%
10 YEARS   5.35%

Related posts:

1. Mortgage Rates Are Moving (Up)
2. Mortgage Interest Rates Are Going Up & Down
3. The Days Of Rock Bottom Mortgage Rates Could Be Numbered
4. How Low Mortgage Rates Help The Real Estate Market In Wasaga Beach
5. Lowest Mortgage Rates Being Advertised By 30 Of Canada’s Best Mortgage Lenders Today

This entry was posted on Monday, January 18th, 2010 at 9:36 pm and is filed under Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2. Bank of Canada Leaves Interest Rate Unchanged | Wasaga Beach Real Estate-Wasaga Beach Homes For Sale-Wasaga Beach News said at January 20th, 2010 at 7:01 am

   [...] As expected the Bank Of Canada left the interest rate unchanged at 0.25%, and reiterated its conditional pledge to keep it at that historically low level until the end of the second quarter in an effort to reach its 2% inflation target. [...]

3. Recovery Points To Summer Increase In Interest Rates. How Will This Affect The Real Estate Market In Wasaga Beach? | Wasaga Beach Real Estate-Wasaga Beach Homes For Sale-Wasaga Beach News said at January 31st, 2010 at 6:43 am

   [...] will want to purchase and tie into a low fixed rate before the expected increases. The belief that interest rayes will rise is enough to ensure a busy [...]

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