Over the past few weeks, most mortgage lenders have increased their rates on variable mortgages, however there is still one lender who is still at prime -0.80% (1.90%). They've already announced that they will be increasing rates, however have not yet done so. For anyone still considering a variable rate mortgage who does not yet have a rate locked in, I would not suggest waiting. This product comes with full 20% prepayment privileges and is available on all types of mortgage transactions.
5 year fixed rates still remain as low as 2.39% for purchases only with 20% or LESS down payment or 2.44% for everything else.
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Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.capaulm@citycan.comLic#10532
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