Wow! Further to yesterdays post about mortgage rates, today I see that rates at the big 5 banks have increased again:

1 Year 6.900%
2 Years 7.150%
3 Years 7.200%
4 Years 7.200%
5 Years 7.140%
7 Years 7.350%

Luckily Canada now has 35 and 40 year amortizations available! A 40 year amortization can reduce the principal and interest payment by over $200 on a $250,000.00 mortgage. Combined with the lower downpayment requirements available, including $0 down and free downpayment options, first time buyers or those on a budget can still realize their dream of home ownership!

 
Posted by Annabel Purcell on 05/30/2007 11:37 PM   Comments (2)  
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2 Comments on Mortgage Rate Update 2

MAY
30
2007

Hi Annabel!

I really appreciate your effort to keep the Activerain community informed and up to date.

Nalliah Thayabharan

Commercial and Residential Building Inspector

Expert Building Inspections Ltd
11:43pm • #1
AUG
12
2009
712,458 Points 118 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Annabel,

Okay.  It's time for another blog post!  One a year minimum should be the goal.  :)

Mike in Tucson
8:46am • #2


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Annabel Purcell

Halifax, NS

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