Lethbridge Real Estate - Mortgage Rates

By
Real Estate Sales Representative with Robert W May - Lethbridge Real Estate

Just taking a quick look at the interest rates available out there today.  My current best available rate for a 5 year fixed rate mortgage is 3.49%   Of course this rate is dependant upon strong credit and income and for the purchase of typical residential real estate.

 

I also have several mortgage products available ranging from 3.59% to 3.99% which cover everyone who simply does not fit into the traditional mortgage products.  If you are self employed, a business owner, a farmer, looking for rental property, etc then this sort of product might be right for you.

 

Either way, the inventory of homes available is high and the interest rates are low.  That makes it a fine time to do a refinance of your existing home or consider adding investment real estate to your strategy.

 

Here are some figures from the Bank of Canada.

 

Bank of Canada Interest Rate

July 20, 2010 0.75 %
September 8, 2010 1.00 %
October 19, 2010 Next meeting date

Source: Bank of Canada



Bank Prime Lending Rate

July 21, 2010 2.75 %
September 9, 2010 3.00 %
October 20, 2010 Next meeting date

Source: Bank of Canada




Conventional Mortgage - 5 Year Rate*

 

August 23, 2010 5.49 %
August 30, 2010 5.39 %
September 15, 2010 5.39 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate

Posted by

lethbridge real estate

lethbridge realtor

Robert W May is a Real Estate Broker in Lethbridge Alberta, having now been in the industry for over 23 years. . He was also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta for the past 10 years.  He is an industry leader always willing to help train and educate others in how to improve their business models for financial and personal benefit.




 

 

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