Canadian Mortgage Rates for January 20, 2009... Prime Rate drops 1/2%.

By
Mortgage and Lending with MortgageOpolis

Canadian Mortgage Rates for January 20, 2009

Provided by: MortgageOpolis

  

Prime Rate

3.00%

Variable Rate

Prime plus .80%

1 year fixed term

3.89%

2 year fixed term

4.59%

3 year fixed term

4.55%

4 year fixed term

4.59%

5 year fixed term

4.69%

5 year cash back

6.75%

10 year fixed term

6.45%

Rates subject to change without notice.

 

The Bank of Canada announced today that it is dropping the overnight lending rate to 1% and Major Canadian Banks followed suit by dropping their Prime Rate to 3%.  Other lenders are expected to follow suit in the coming days.

 

Take care,

Dave Vrabic, MortgageOpolis

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
British Columbia Central Okanagan Kelowna
Groups:
Canadian Mortgages
Tags:
vernon
canadian mortgage rates
canadian mortgages
canadian prime rate
kelowna mortgages
kelowna mortgage broker
canadian mortgage news

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
238,206
David W. Langford
Promo-Plates car nameplates by Ameri-Plates - Detroit, MI

Be thankful you live in Canada...    Canadian economic conditions are still much stronger than the US, even with a huge decline in exports.   Home prices will fall, but not to the same degree as US prices.   The Bank of Canada rate drop is a new record low and it should help.

Jan 20, 2009 06:31 AM #1
Rainer
3,618
Dave Vrabic
MortgageOpolis - Kelowna, BC
Mortgage Broker

Thanks for the reply!

It's unfortunate for many individuals at what is happening.. job loss, home loss, etc., but, I believe it will make the US stronger in the long run.  Hopefully soon!

By the way what has happened to the old days of buy "made in the USA"?  Although it would increase inflation... it would create jobs and an increase in consumer spending thereby stimulating the economy. 

I was shocked this Christmas to see most of our gifts are manufactured in China.

 

 

Jan 20, 2009 06:45 AM #2
Rainmaker
131,098
Matt Horton
Realty One Group- The Horton Team - Scottsdale, AZ
North Scottsdale Real Estate

With the Canadian Dollar Rising today, now might be a great time for those looking to invest in Arizona, specifically North Scottsdale. I am looking for individuals or small groups of friends and larger investment groups or clubs looking to secure great long term investments in Arizona.  I work with a lot of Canadians and looking to branch out to more!  If you or someone you know is interested, please have them contact me! It's worth a quick forward of info as I might be the perfect person to talk with!

Matt Horton

John Hall & Associates

480-227-3311

info@thehortonteam.com

Canadians in Arizona

Canadians Buying Real Estate in Arizona

Looking for a smoking deal, Foreclosure, Bank-Owned, short sale? FREE list of all homes directly to your email! CLICK HERE.... or fill out the form at the bottom of this page

Why am I dedicating this page to Canadians looking for Real Estate in Scottsdale?

Canadians buying in Arizona made up 60% of my business in
'08! I know we are donig a great job for our Northern neighbors beceause our clients have referred us to MANY other Canadians buying Primary, Investment and Vacation/2nd homes in Scottsdale, Phoenix and surrounding areas. I have dedicated my time and energy to become a specialist in helping Canadians buy their perfect home here in AZ.

  I take yearly golf trips to Canada with clients & friends. (Kimberly, BC, Radium) and just booked June 9-15th and plan on meeting clients and prospective clients for a few hours in Calgary June 10th!  If you would like to join me, please let me know!!!!

I have created some important information for Canadians looking to buy in Arizona...For Free.  I hope you use this information whether you use me or not.  Obviously, I would appreciate the opportunity to help you or a group of people invest here.  This is truly the greatest time to purchase in Arizona.  As our city grows to over 10 million in just under 35 years, supply and demand simply dictates prices will increase and a full recovery is eminent....it's just a matter of time.  So read on and take advantage of this useful information!

Steps for Canadians buying Real Estate in Arizona:

 

1. Determine what type of property you want-  Do you want a turn key condo?  A maintenance-free home? Considered loft/urban living?  Many people change their mind, so think about your ideal place.  It's ok not to know exactly...That is what I am here for!

2.  GET A TAX ID OR SSN- If you read just one thing, this is the one to read!  If you are Canadian moving to Arizona and DON'T have a TAX ID/SSN and have to sell, you will surrender 10% of your PURCHASE PRICE (Not Gain) to the US Government!  It's actually very easy to set up and the first thing you should do is go to http://www.irs.gov/pub/irs-pdf/fw9.pdf  Consult your tax attorney/CPA also!  I'll go more into that later....

3. Criteria- Really think about this because you will have more people visiting you than you think! Everyone will want to use your place!  Family? Friends? Think about bedrooms/baths size, levels, proximity to golf/airport/restaurants and of course price. (if you are unfamiliar with the area, call me and I'll send you a map, talk about locations, etc.)

3. Who's Buying? Determine if you are buying alone or going in with others.  I have many clients that have combined their investment to capitalize on the best home with the largest discounts and greatest possible ROI.

4. Financing-Most of my clients are cash buyers or financing in Canada.  I know most of you have huge equity in your homes since your market has gone up recently.  Be smart about it and if makes, sense do it. I do have lenders here that are specialists in Foreign National programs. 

5.  Get listings sent to your email-   The only way to really understand the market is to receive listings that match your criteria.  The best way is to actually visit!  Plan a trip. Many of you are coming down anyway, so wrap some searching into it. 

Step 6-12-
Fill out the form and we can go through the rest.  I am not trying to"trick" you into filling out the form. If you don't want to...don't.  I don't like to be sold or have some pushy person hound me.  I'm here to help you make an investment. The truth is that I am a busy. I don't have the time or inclination to chase business by hounding someone. Those who work with me receive the best service, communication, and experience!  Those who don't want the very best.... that's ok too.

All I ask is that you understand a simple fact. Every single Canadian client has referred me at least 1 friend/family/business associate. There is a reason. It's because I am laid-back but professional.  Easy to talk to but stern in my negotiations.  Bottom line is that I know my business and it's taken years and years to develop;  I am not bragging but very proud because it separates me from other Realtors.

So, fill out the form.  I'll set you up on a free search and you'll get them automatically sent to your email.  Is that as fair and honest? If so, get started!  Matt Horton  480-227-3311 

Jul 21, 2009 06:18 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
3,618

Dave Vrabic

Mortgage Broker
Ask me a question
*
*
*
*
Spam prevention