Back to Blog
13 Apr

Bank of Canada keeps rates steady. Mortgage Market Update April 13, 2017

General

Posted by: Anne Martin


MARKET UPDATE

Have you wondered if you should invest in real estate to fund your retirement?

Click here to read about four ways to profit from investing in real estate.


The Bank of Canada met on April 12, 2017 and since they forcast continued economic stability they still see some weakness so they have decided to keep rates unchanged.  For more info, click here.


Best rates are as low as 2.29% for a 5 year fixed, variable rate prime minus .70%
*OAC  **conditions apply

This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, or need to refinance in the next year, it is really important to make an appointment today to find out how these changes may affect you.

**rates subject to change with market conditions – E. & O. E.

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 3.04% 2.34%
2 YEARS 2.84% 2.14%
3 YEARS 3.44% 2.44%
4 YEARS 3.89% 2.49%
5 YEARS 4.64% 2.29%
7 YEARS 5.30% 3.24%
10 YEARS 6.10% 3.79%
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 2.70%
Variable rate mortgages from as low as Prime minus .70%

 **Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.” Check with your Dominion Lending Centres Mortgage Professional for full details and to determine what rate will be available for you.

*O.A.C., E.& O.E.