2.89% Interest Rate on a 5 Year Term!

2.89% Interest Rate on a 5 Year Term!

Rates are still so low right now and the Spring market will be soon upon us, it is a great time for first time home buyers to start considering their options. Fixed rates have changed since the last announcement, sitting around 2.89% to 2.99% for a five year fixed term.

Based on this news and the continued slack in the Canadian economy, the Bank does not expect to increase their rate in the foreseeable future with any change most likely to occur possibly as late as Fall 2013 to early 2014!   Remember, that any increase to the prime rate since 1992 has only been by 0.25% at any ONE time, so you won’t see a large significant increase all at once.

Contact us today for more information!