Financing
Mortgage Rates
Kyle Green (Meridian Financial Services Ltd. 604-949-1070 ext. 227) says: "With all of the lenders moving from Prime Minus to Prime Plus on their variable rates, most clients have opted for the safer bet with a 5 year fixed rate or longer. We expect this trend to continue until a lower cost of funds for the banks allows them to go back or close to Prime Minus again. In other words, you will know when the lending crisis is improving when Prime Minus products return to the market. Best 5-year rate 4.9%."
| November 19, 2008 | 1 yr | 2 yr | 3 yr | 4 yr | 5 yr | 7 yr | 10 yr | 15 yr | 18 yr | 25 yr |
| Meridian Rates | 4.49% | 5.35% | 5.25% | 5.34% | 4.90% | 6.25% | 6.45% | 6.85% | 6.85% | 6.95% |
| Posted Rates | 6.35% | 6.70% | 7.05% | 7.04% | 7.20% | 7.65% | 8.00% | n/a | n/a | n/a |
>> Courtesy of Jurock's Facts by Fax
Ozzie Jurock on Global TV News Variable vs. Fixed Rate Mortgages: what to do?Tips from Ozzie Jurock and others. |
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