No changes since last weeks mortgage rate update.
Here’s the Big 6 Bank and Credit Unions 5yr fixed rates along with the best Verico mortgage rates for October 28th, 2013 along with our weekly mortgage video.
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 2.40%
The best 5 year variable rate is Prime minus .40%. 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 Life Insurance
Questions about Mortgage Rates or Mortgage Life Insurance?
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