5 Year qualifying rate reduced
Many banks have decided to move ahead and reduce their 5 year benchmark rate to 5.19% (from 5.29%) - this should help more applicants qualify for home financing.
Please let me know if you would like additional information or a second oppion on a current mortgage application. I'm here to help.
Current rates are as follows:
Variable: 2.20% (Prime - 0.80)
1 Year Fixed = 2.44%
3 Year Fixed = 3.29%
5 Year Fixed = 3.44%