Led by TD Canada Trust, rates at most major banks recently inched up 20 to 35 basis points. The five-year, closed posted rate is now 5.69 per cent, up 35 basis points from the previous posting — and that is on top of a 0.25-basis-point hike in March for five-year fixed rates at most financial institutions. The rates are dependent on what happens in the bond market — and other factors could change them as well. Mortgage rates are expected to remain relatively flat for 2011. Rates could, however, increase at a faster pace if the economy ends up improving more quickly than presently anticipated. The rate hikes could be part of the reason resale homes are returning to a more balanced market.
Current Discount Mortgage Rates Variable Rate - 2.30% 5 Year - 4.09% Prime Rate: 3.00%
If you have any questions about Canada mortgage rates and Toronto real estate, callAlexandre Malkhassiants, Sales Representative and Mortgage Specialist. Right at Home Realty Inc., Real Estate Brokerage. Office: (416) 391-3232. Cell: (416) 723-9383. E-mail: amalkhass@rogers.comWebsite: Toronto real estateWebsite: Ontario real estateBlog: Lowest Canada mortgage rates
