January 18, 2010
Monday Mortgage Minute – January 18th 2010
Toronto mortgage interest rates have taken a definite U turn from the direction predicted by economists at the beginning of the year. It looks like low interest rates may be here to stay for a while longer. I can currently offer a 5 year fixed at an unprecedented low rate of 3.75% subject to lender restrictions. However it is a very clear indication of where rates are headed. Last week some conservative lenders had increased their fixed 5 year rate to 4.50% but were quick to reverse that decision. If you don’t see a rate here or have any questions please contact me.
Chris Molder – Son Of A Broker
1 year fixed – 2.30%
3 year fixed – 3.45%
5 year fixed – 3.89%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.25% (2.00% effective rate)
RATE SPECIALS
5 year fixed – 3.75% (must close by Feb 23rd 2010, purchase & refinance only)
3 year variable Prime-.30% (1.95% effective rate closing in 30 days, purchases & refinance only)
NOTE: Rates are subject to change without warning at the lender’s discretion.
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Chris,
We met at the holiday party and you were kind enough to show us your place. I’m Montana on Dexter’s blog, and we bought 2402.
You are obviously happy so far, but it seems as if others are having a hard time with improvements.
Would you mind calling me to discuss mortgages. We’ve been talking to another broker and if you want to, with no obligation on our part, to see what you have and whether it fits our plans.
Thanks
Joel