Canadian Mortgage Rate Update Jan 10, 2008

Canadian Mortgage Rate Update Jan 10, 2008

It will be interesting to see what the Bank of Canada decides to do with interest rates in the upcoming months. The Cheif Economist from Merrill Lynch has said that he expects the Bank of Canada to drop interest rates as much as 150 basis points. I find that hard to believe with the way the Canadian Economy has been going.

The Bank Prime Rate is currently 6.00%.

Best Fixed Mortgage Rates:

1 Year Fixed 6.00%
2 Year Fixed 6.10%
3 Year Fixed 6.10%
4 Year Fixed 5.95%
5 Year Fixed 5.99%
7 Year Fixed 6.25%
10 Year Fixed 6.30%

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.