Here is our latest interest rate update. Fixed Mortgage Rates continue to slowly drop in the last couple of weeks. The best rates available are on insured mortgages where you pay the CMHC premium with higher rates on conventional mortgages (20% equity).
We are still waiting for the Prime Rate to drop to make variable rates more attractive. There are some hints it may happen in the second half of the year but nothing solid on this front yet.
Below is a summary of our best fixed mortgage rates.
5 year variable: Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2.90%
5 year fixed rate:Â Â Â Â Â Â Â Â Â Â Â Â Â 3.09%
4 year fixed rate:Â Â Â Â Â Â Â Â Â Â Â Â Â 3.29%
3 year fixed rate:Â Â Â Â Â Â Â Â Â Â Â Â Â 3.14%
2 year fixed rate:Â Â Â Â Â Â Â Â Â Â Â Â Â 3.32%
If you need more information regarding mortgages or if you need any advice on your personal situation please contact our office at 604-556-3893 or email at alex.kotai@ymscanada.ca.
For more information on our mortgage products and your preferred Abbotsford Mortgage Broker please visit our website at www.ymscanada.ca.