Current mortgage interest rates in Toronto area plus incentives offered by CMHC
These are the current mortgage rates in the GTA and some incentives offered by CMHC
Here are some of our current promotions and rate sheet:
CIBC's up to 7% Cashback: can be use as a down payment up to 100% financing.
CIBC $500 Cashback for First time home buyer
And more...
Rate sheet:
Variable closed 2.35% prime + .10%
Fixed:
1 Year/ 2.70%
2 Year/ 3.60%
3 Year/ 3.70%
4 Year/ 3.69%
5 Year/ 3.84%
Variable closed 2.35% prime + .10%
Fixed:
1 Year/ 2.70%
2 Year/ 3.60%
3 Year/ 3.70%
4 Year/ 3.69%
5 Year/ 3.84%
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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Labels: cmhc, Interest-Rates, mortgage-interest-rates
posted by Mark Argentino
@ Monday, September 14, 2009
2 comments
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2 Comments:
Wouldn't you call these promotions sub-prime material?
Good point! Yes, I believe you could call it a sub prime mortgage as it's below the bank prime rate. We've had subprime mortgages in the past here in Canada.
I've written about sub-prime mortgages before here: http://www.mississauga4sale.com/Sub-Prime-Mortgage-Lending-Meltdown-Canada.htm
It's a little different here and hopefully we will not go down the path that our US neighbours recently did.
All the best,
Mark
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