Canadian Mortgage Rate Update December, 2007

Canadian Mortgage Rate Update December 7, 2007

Bank of Canada reduced the prime rate by .25% which will save the people in variable rate mortgages some money. There has been very little change in mortgage rates in the last couple months. Fixed term mortgage rates remain unchanged even after the Bank of Canada announcement.

The Bank Prime Rate is currently 6.00%.

Best Fixed Mortgage Rates:

1 Year Fixed 5.60%
2 Year Fixed 5,65%
3 Year Fixed 5.70%
4 Year Fixed 5.95%
5 Year Fixed 5.99%
7 Year Fixed 6.05%
10 Year Fixed 6.15%

Best Variable Rate Mortgage:

Best variable rate is Prime -.60% or 5.40%

MyMortgageBC.com is a mortgage broker located in Vancouver, BC. If you would like the best mortgage rate, or have any questions regarding the mortgage process you should give us a call at 604-764-6336.