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Interest Rate Update - increases

March 29th, 2010 · No Comments

RBC and TD have announced that they are lifting rates on fixed term products.  See below for full details keeping in mind those are the posted rates. Others are likely to follow and discounts below posted rates are anywhere from 1.4-1.6%.   

 

No change to prime rate and variable or adjustable rate mortgages.  Though that is coming at some point too.   Inflation #s last month a little higher than Bank of Canada likes so chance they may lift prime sooner than the expected July uptick.   Still much debate how much prime will or can go up.  Economy still on shaky ground though some more positive #s and reports have been coming in. 

 

Current rates are below 4% anywhere between 3.69 and 3.89% depending on lender.  To lock in or not still a difficult question.  If deep discounted variable in 1% range still a lot of room to make up.  But if wish so peace of mind and additional 5 years of historic low fixed rates may be something to consider. 

 

RBC 5 year fixed rate :  5.85%

RBC 3 year fixed rate :  4.35%

Tags: General

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