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Mortgage Market Update – Oct 25, 2012

General AJ Green 25 Oct

The picture of the Canadian interest rate market is unchanged this week.  Regular 5 year money is currently in the 2.99% – 3.19% range. I now have 2 lenders, both conventional and high ratio, offering 10 year funds at 3.89%.              


*If you have a variable rate mortgage of any more than prime +.75 or a fixed rate of 3.75% or more, I should help you explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates!  


Contact me for a free, no obligation review @ 613.639.0708. Spending a few minutes could save you thousands of dollars.


– Bank prime remains at 3.00%

– The next meeting of the Bank of Canada is December 4, 2012.


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