Latest Canadian Mortgage Rates
by Vancouver Mortgage Broker . ca
Latest Mortgage rates: Residential Mortgage Rates
Term
6 Month
1 Year
2 Year
3 Year
4 Year
5 Year
7 Year
10 Year
Variable
Rate
Prime
Rate
Posted Rates*
6.85%
7.15%
7.35%
7.35%
7.35%
7.34%
7.65%
8.00%
Special Offers*
6.20%
6.35%
6.45%
6.35%
6.00%
5.89%
6.15%
6.40%
5.50%
6.00%
Fixed rates are compounded half-yearly, not in advance. Interest rates are subject to change at any time, without notice. Variable rates are compounded monthly, not in advance. Royal Bank Prime rate is an annual variable rate of interest announced by Royal Bank of Canada from time to time as its prime rate. Rates are subject to change at anytime without notice. Special Offers are based on a $250,000 to $300,000 mortgage for the applicable term. Vancouver Commercial Real Estate
Mortgages must be advanced within 90 days of date of application in order to qualify for Special Offers rate. Special Offers may be changed, withdrawn or extended at any time, without notice. Rates shown are for residential properties only and are subject to meeting lenders credit granting criteria. Also please check . British Properties Homes for the latest luxury homes in British Properties, West Vancouver bc.
Current Mortgage Rates for Refinance and Purchase Loans in Canada (Vancouver):
The best mortgage rates can be difficult to find, but being a mortgage broker in Vancouver for such long time, I can compare over 200 lenders to find the lowest rates available in Vancouver, BC.
article 1 : Mortgage broker in Vancouver bc
While the majority of borrowers in Vancouver bc still remain loyal to their banks, more and more individuals are breaking away from tradition and choosing to go with independent mortgage brokers. These independent brokers offer lower interest rates by pitting banks and other mortgage lenders against each other.
One of the more popular mortgages in Canada is called a: refi, which is the refinancing of one loan by taking out a new loan, using the same property as collateral. Borrowers are cautioned to make sure the savings outweigh any fees associated with the refinancing. The reason these mortgages have become so popular in Canada is because many borrowers wish to escape their adjustable rate mortgages.
Future trend Prediction
Canadian mortgage rates are directly affected by the actions of the Bank of Canada. By monitoring the interest rate on bonds issued by the Bank, anyone can get an indication of interest rate directions. The bond market is essentially a reflection of investors’ interest rate expectation for the future of the Canadian economy.
Investors who do their homework know that bond rates have been declining. The decline in bond rates results in lower interest rates on mortgages in Canada. The Bank of Canada has backed away from increasing rates due to recent unrest in the market. However, there is speculation the Bank of Canada may slightly raise interest rates in the coming months. Mortgage broker in Vancouver bc
article 2 : Mortgages – Know Your Options
Mortgage loans provide people with a way of decreasing their debt and buying their home—using their property itself as the debt security. Mortgage loans are available through a variety of banks and financial lending institutions, each of which have different terms and conditions and offer you different benefits.
Interest-Only Mortgage:
In an interest-only mortgage, you only pay the accumulated interest on your loan every month. Your entire loan is not paid off until the end of the term, as one large, balloon payment. The borrower has to come up with more cash at the end of the loan or risk forfeiting the property.
Adjustable Rate Mortgages
An adjustable interest rate is just what it sounds like—the interest rate can be "adjusted", up or down, depending on macro economic, government activity. Most adjustable rates are lower than standard, fixed rates because the borrower, not the lender, takes on more risk.
Discounted Interest Rate
This method gives you the advantage of a fixed interest rate for an agreed-upon period of time, after which the rate will fluctuate—just like a standard adjustable rate. While the option of lower payments is a viable alternative for someone who may be in a temporary financial crunch, keep in mind that future payments may fluctuate.
Fixed Rate of Interest
The fixed interest rate mortgage is a loan that most homeowners are familiar with.When you take a mortgage with a fixed interest rate, you pay the same amount each month. The only conditions that would cause your payment to change are real estate taxes and home insurance.
Mortgage broker in Vancouver bc
link to Vancouver Mortgage Broker : Please email me your code to site at vancouver-mortgagebroker dot ca