Good news, one financial institution has dropped their 5 year fixed mortgage rate to 5.09%. Check the attachment for all rates. Most financial institutions are currently between 5.20% from 5.25%. Most analysts expect that when the Bank of Canada meets in Dec they won’t change the prime. All rates are available as a pre-approval and can be held for 120 days before the completion of your mortgage transaction for your piece of mind.
Did you know that if you pay your mortgage bi-weekly instead of monthly you would reduce your amortization from 25 years to 21.26 years. On a 0,000 mortgage this represents a savings of around ,000. One small change can add up to HUGE savings.
