Whether you like it or not, stats and numbers are a part of the world of mortgages. When rates change even the slightest of percentage points, it could cost or save you thousands of dollars. Every once in a while, here on the Mortgage Monday posts, I’ll update you on what’s going on in the… Continue reading Mortgage Monday Rate Update – February 2012
Tag: variable rate
10-Year Mortgage Below 4%
The 10-year term in Canada is pretty rare these days (less than 1% of mortgages in Canada have a term 10 years or longer), but a 10-year term below 4% is unheard-of. Or, at least it was until last week. Gone are variable rates with “prime-0.9%” discounts (now they’re hovering right around prime which is… Continue reading 10-Year Mortgage Below 4%
Mortgage Monday Rate Update – December 2011
This is going to be the last Mortgage Monday blog post for 2011 (we’re all going to take next week off). I figure the best way to end the posts for the year is a look back at rates. Whether you like it or not, stats and numbers are a part of the world of… Continue reading Mortgage Monday Rate Update – December 2011
Mortgage Monday Rate Update – November 2011
As many of you know, my wife and I had our first child a couple of weeks ago (a healthy baby boy, Markus), so if you were wondering where the past 2 “Mortgage Monday” posts were – I skipped them to either a) spend time with my new son and/or b) to sleep. 😉 Needless… Continue reading Mortgage Monday Rate Update – November 2011
What is “Prime Rate”?
The Prime Lending Rate in Canada (like in many other countries) is a reference interest rate charged by banks and lenders to their most “creditworthy” customers. In reality we find that most banks and lenders in Canada base their best interest rate (usually in the form of a variable interest rate) on the prime lending… Continue reading What is “Prime Rate”?