Calgary Mortgage Rates to hot to turn down

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Mortgage and Lending with Lynn Meldrum with Verico Canada First Mortgage

Rigth now is the best time to look at refinancing your home.  Rates are very low right now (Best so far is 3.9% for a 2 year fixed.  If your mortgae was done in the last two years your rates will have been higher than they are know.  even for a straight switch it would be great because your mortgage payments would be lower than they are.  If you need to consolidate some of your debt (or all of your debt) into your mortgage you may be looking at a just slightly higher payment depending on your ammortization period.

It could very exciting for those we are a little in debt but have equity in thier homes.  Your mortgage payment may be higher but the credi card payments and or car payments would be gone. 

Term Our Discounted Posted Bank Rate
Adjustable 0.80 below prime Prime 2.5%
1 Year 3.25% 5.50%
2 Years 3.90% 5.75%
3 Years 3.99% 5.57%
4 Years 4.14% 5.69%
5 Years 5.19% 5.79%
7 Years 5.90% 7.00%
10 Years 6.05% 7.35%
  rates as of March 10, 2009  
  Rates can change w/o notice  

 

Here are the rates as we have then here in Calgary AB

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Rainmaker
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Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Wow - Prime minus .8% that is smokin HOT! That's a rate of 2.45%! Most banks in my area are putting an artifical floor in.  By this I mean they are doing Prime or Prime plus whatever but they are incorporating a floor that prohibits the rate from going below 4.5%.

:)

Mar 12, 2009 11:51 AM #1
Rainmaker
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Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Those are some pretty aggressive rates. I have seen a couple of mortgage brokers here offering 3.83% and 3.87%.

Mar 15, 2009 06:29 PM #2
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Rainer
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Lynn Meldrum

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