Warning: "continue" targeting switch is equivalent to "break". Did you mean to use "continue 2"? in /nfs/c02/h01/mnt/28627/domains/scottdawson.ca/html/wp-content/themes/Divi/includes/builder/functions.php on line 5941
Mortgage Rates Aug. 13th, 2013 | Scott Dawson
(778) 668-9320 [email protected]

There been some slight increases to the 5 year fixed rate & variable rates since yesterday’s mortgage rate update. Here’s the best mortgage rates in Canada for August 13th, 2013:

What are today’s mortgage rates?

[table id=1 /]

Best 5 Year Fixed Rate is 3.29%

The best 5 year fixed rate mortgage is 3.29%. This is the RMG Low Rate Basic mortgage so as long as the features work for you it’s an excellent rate.

Best 5 Year Variable Rate is 2.45%

The best 5 year variable rate is Prime minus .45%. This is also a Low Rate Basic mortgage. So be aware of the additional penalty calculations on this variable product. In my opinion if you are wanting a variable you will be better off going with another lender, even though you won’t get quite as much of a discount. Give me a call for more info on this offer.

Best 10 Year Fixed Rate is 3.99%

The best 10 year fixed rate mortgage is 3.99%. The 10 Year Fixed Rate is perfect for people worried about mortgage rates rising and want to avoid payment shock when their mortgage comes up for renewal. With the 5 year fixed rates increasing this week this option is looking more attractive.

If 10 years sounds like a long time don’t forget that they’re assumable and portable and best of all after 5 years you’ll only pay a 3 months interest penalty to break it. Not the IRD.

Get Today’s Rate

Mortgage Rate Hold

Do you need a mortgage rate hold? Getting pre-approved is easy and once your application is completed I’ll be able to lock in your rate for up to 120 days.

Apply Now