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Weekly Mortgage Rates for July 13 – 17th, 2009

This week brings good news for variable rate mortgages. Although there has been an increase in the 4 yr and 5 yr rates, variable rates are trending lower. Variable rates are now prime + .30 or prime + .35 in certain cases for a 5 year closed rates. If you are interested in a 5 year open, the variable rate is 3.05 or lower, depending on the lender, so if you are thinking of buying or selling your Mississauga home, this is a great opportunity to take advantage of these unprecedented rates. Here is this weeks fixed rates compliments of Dominion Lending Centres, where you can explore Mortgage Scenarios with Helpful Calculators on http://jamessmythe.ca

Terms                         Bank Rates              Our Rates
6 Month                      4.60%                         3.95%
1 YEAR                       3.75%                          2.75%
2 YEARS                     4.05%                         3.05%
3 YEARS                     4.65%                          3.59%
4 YEARS                      5.14%                         4.89%
5 YEARS                      5.85%                         4.19%
7 YEARS                      6.80%                         5.35%
10 YEARS                    6.90%                         5.25%
Rates are subject to change without notice. *OAC E&OE

Prime Rate is 2.25%
Variable rate mortgages from as low as Prime + .30%
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. 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.

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