Friday, June 13, 2008

Mortgage rates going up today

Well the Bank of Canada may not have changed rates this week but the institutional lenders are changing some rates this morning anyways. They most likely had already built in a little anticipation of a drop into their rates ahead of Tuesday's meeting and now have had time to crunch the numbers and are adjusting to where they think they should be. Nine out of the 20 lenders available had changed their rates in the last 2 days.
Here is a short recap of rates available through our mortgage brokerage partner site Spencer Group Mortgages ... why not pay them a visit and find out a little more ?

Bank Prime 4.75%

Fixed Rates

1 Year 4.90%
2 Year 5.39%
3 Year 4.99%
4 Year 5.39%
5 Year 5.24%

Variable rate prime minus .60%

E. & O. E. rates subject to change without notice, rates subject to lender criteria

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