When we were buying homes in the '60's, '70's, and '80's did we ever dream that interest rates would ever be so low as they are currently? I distinctly remember a friend, who was an active realtor in the early 1980's when rates went to 21.5%, making the comment, "We may never see 10% mortgage money again."

Well surprise, surprise! Rates today are at historical lows. If buyers qualify, they can obtain a 5-year closed mortgage for as little as 3.79%. A 1-year closed can be as low as 2.50% as are 5-year variable rate mortgages!

The following link will take the reader to a chart of current interest rates in Canada (provided by Gerry Smith, Mortgage Manager of TD Canada Trust):

https://vaslogin.com/partner/edesigns/preview.asp?idp=66692&id=82024&act=show&pers=12948455&type=1&idto=1,98248

 

Wishing you a wonderful day,

Ted

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Selling Homes in Beautiful Victoria!

 

Specializing in residential and revenue properties in...

Victoria, Esquimalt, Oak Bay, View Royal, Royal Oak, Saanich, Central Saanich, North Saanich, Colwood, Langford, Bear Mtn., Sidney, Shawnigan Lake, Mill Bay, and Cobble Hill

Whether you are buying, selling, downsizing, upsizing or relocating to Victoria... Ted can help.

 

Visit Ted's website at Ted4Homes.com

Visit Ted's blog at blogrealestatevictoria.com

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3 Comments on Canadian Mortgage Rates Still at Historical Lows!

OCT
08
2010
167,229 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wow you just brought back memories.  I am a fellow Canuck now living in Los Angeles - I bought a home in 1989 and my second was double digit I am thinking 18 or 19 percent...amazing
12:11am • #1
537,518 Points 6 Featured Posts Outside Blog Called Shot Master

Good Post Ted and remember they wanted a hudge down payment to go with the high interest rates.
5:23am • #2
DEC
30
2010
361,673 Points 1 Featured Post Outside Blog

Richard and Dan, thanks for the comments. Rates, of course, will head up again.
2:15am • #3


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Ted Tyrrell - Selling Homes in Beautiful Victoria!

Victoria, BC

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Victoria, Oak Bay, Saanich Peninsula, Esquimalt, Bear Mtn.

Address: 3914 Shelbourne St., Victoria, BC, V8P 4J1

Office Phone: (250) 477-7291 x 7832

Cell Phone: (250) 661-3874

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Greetings! I am a real estate professional in the beautiful city of Victoria, BC. I deal mainly with residential houses and condos, but as I personally have owned revenue properties for many years, I feel qualified to help you find the right investment property as well.


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