Current Ontario Canada Mortage Interest Rates

The table below shows current posted and possible mortgage interest rates in Ontario. You will note that most lenders are offering .5% off the Bank Prime Rate for Variable Rate mortgages.
The rate drop game continues. Although the prime rate has dropped about 1.5% over the past 6 to 8 months, the 1-10 year mortgage rates have barely budged, maybe about .3% The best rates are the variable these days.

TERM	POSTED	OUR RATES*
6 Month	6.40%	6.40%
1 Year	6.95%	4.90%
2 Year	7.00%	5.14%
3 Year	7.00%	5.05%
4 Year	6.85%	5.44%
5 Year	6.99%	5.34%
7 Year	7.40%	6.00%
10 Year	7.75%	6.25%
Variable Rate		4.15%
Prime Rate		4.75%

* Rates may vary provincially and are subject to change without notice.
Rates Last Updated: Thursday, April 24, 2008

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Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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