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!