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Mortgage Update
Submitted by Krishan on December 16, 2024 - 12:51pm
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Dec Update:

  • Prime rate dropped Dec 11 by 0.50% to 5.45%, immediately reducing variable rate mortgages and Helocs.
  • Check out some insight from our Chief Economist Douglas Porter, CFA: BoC Policy: 50 Shades of Easing (expecting another 0.75% by mid 2025).
  • Seize the opportunity to help clients concerned with their mortgage renewals at higher rates and possible accumulated debt – ask me how.

 

Mortgage Rates Dec 12/2024 (subject to change without notice)

Prime rate 5.45%

1yr

2yr

3yr

4yr

5yr

5yr

Type /Yr

fixed

fixed

fixed

fixed

fixed

variable

Default Insured 25yr < 20% down

5.88%

5.39%

4.37%

4.57%

4.40%

4.66%

25yr amortization > 20% down

6.00%

5.55%

4.44%

4.69%

4.62%

4.78%

30yr amortization > 20% down

6.10%

5.65%

4.60%

4.76%

4.72%

4.88%



for rentals add up to 0.15%

Best wishes over the holidays!

 

 
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