Published by Anuj Gupta, AMP, BComm
Mortgage Associate
5 year fixed rate mortgage interest rates have continued their downward fall since late-July, now falling as low as 3.79%. I expect that increased appetite for mortgage loans in the fixed interest rate segment by Canadian Mortgage Lenders will lead to further reductions in rate.
At the same time, the Bank of Canada(BoC) reduced its mortgage qualification rate by another 0.1% this week; now down to 5.49%. With this move, more Canadians are able to qualify for variable rate mortgages, as well as qualify for fixed terms shorter than 5 years.
For more information regarding mortgage rates and qualification, contact one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit http://www.albertamortgagecentre.com.
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