Canadian Mortgage Rate Update Feb 6, 2008

Thanks to all of the visiters to my blog.

Canadian Mortgage Rate Update Feb 6, 2008

Bank of Canada lowered the Prime Rate and the lenders have follower on their variable produccts but have been slow to move their fixed rates down.. Expect rates to drop further in the next few months.

The Bank Prime Rate is currently 5.75%.

Best Fixed Mortgage Rates:

1 Year Fixed 5.95%
2 Year Fixed 6.05%
3 Year Fixed 6.05%
4 Year Fixed 5.05%
5 Year Fixed 5.84%**
7 Year Fixed 6.20%
10 Year Fixed 6.25%

5 Year Rate Special 5.74% ** Must close before Feb 28th, 2007.

Best variable rate is Prime -.60% or 5.15%

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.