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Mortgage Rates Oct. 21st, 2013 | Scott Dawson
(778) 668-9320 [email protected]

Little change since last weeks mortgage rate update. In case you missed our blog posts from last week we are now proud to announce that Lori Lalonde is now available to service clients in Dawson Creek, Tumbler Ridge & Chetwynd in Northern British Columbia.

I’m still located in the Lower Mainland to service clients in Vancouver and the surrounding areas, and we’re also setup to help clients over the internet across Canada. For more info on what we do check out our services page or get in touch with Lori or I.

Here’s the Big 6 Bank and Credit Unions 5yr fixed rates along with the best Verico mortgage rates for October 21st, 2013:

The following interest rates come from each lenders internet mortgage rate page,

5 yr Fixed Rate Mortgage Big 6 Bank Comparison

Bank of Montreal – 3.89% (Warning: Low rate no-frills)
TD Canada Trust – 3.79%
RBC Royal Bank – 3.89%
CIBC – 3.89%
Scotiabank – 3.99%
National Bank – 5.34%

5 yr Fixed Rate Mortgage Vancouver Credit Union Comparison

Vancity Credit Union – 3.69%
Coast Capital Savings – 3.65%
Westminster Savings – 3.69%

What are today’s Verico mortgage rates?

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Best 5 Year Fixed Rate is 3.49%

The best 5 year fixed rate mortgage is 3.49%. This and exclusive offer available from Verico mortgage brokers only. Please contact us for more info on this low rate offer as there is certain terms and conditions that apply.

Best 5 Year Variable Rate is 2.50%

The best 5 year variable rate is Prime minus .50%. Variable rates are now coming back into favour since fixed rates have increased. As long as you can qualify using the Benchmark Qualifying Rate this is a good option. My suggestion to those that want a Variable rate mortgage is to set their payments to match the five year fixed rate and you will not only pay off your mortgage faster but also cushion yourself from any Bank of Canada rate increases.

Mortgage Money Saving Strategy: Rounding Up/h2>

Questions about Mortgage Rates?

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*Rates shown subject to change at any time. O.A.C.