| Financial Institution | 3 Yr | 5 Yr | 7 Yr | 10 Yr | 5 Yr Variable |
CENTUM Primo** | 3.69 | 4.09 | 5.65 | 5.50 | 2.30 |
Concentra | 3.99 | 4.29 | N/A | N/A | 3.00 |
| First National | 3.69 | 4.19 | 5.10 | 5.34 | 2.25 |
| FirstLine | 4.00 | 4.39 | 5.25 | 5.34 | 2.35 |
| Home Trust | 4.59 | 5.09 | N/A | N/A | 3.50 |
| ING | 3.69 | 4.29 | 4.79 | 4.99 | 2.25 |
| MCAP | 4.09 | 4.14 | 5.10 | 5.50 | 2.35 |
| Scotia | 3.99 | 4.39 | 5.29 | 5.79 | 2.85 |
| Street Capital | 3.79 | 4.29 | N/A | N/A | 2.30 |
| TD | 4.00 | 4.39 | 5.14 | 5.34 | 2.35 |
| ResMor | 3.94 | 4.24 | N/A | N/A | 2.40 |
| Lendwise | 3.65 | 4.02 | N/A | N/A | 2.15 |
|
Led by TD Canada Trust, rates at most major banks recently inched up 20 to 35 basis points.
The five-year, closed posted rate is now 5.69 per cent, up 35 basis points from the previous posting — and that is on top of a 0.25-basis-point hike in March for five-year fixed rates at most financial institutions.
The rates are dependent on what happens in the bond market — and other factors could change them as well.
Mortgage rates are expected to remain relatively flat for 2011. Rates could, however, increase at a faster pace if the economy ends up improving more quickly than presently anticipated.
The rate hikes could be part of the reason resale homes are returning to a more balanced market.
Current Discount Mortgage Rates
Variable Rate - 2.30%
5 Year - 4.09%
Prime Rate: 3.00%
If you have any questions about Canada mortgage rates and Toronto real estate, call Alexandre Malkhassiants,
Sales Representative and Mortgage Specialist. Right at Home Realty Inc., Real Estate Brokerage.
Office: (416) 391-3232. Cell: (416) 723-9383.
E-mail: amalkhass@rogers.comWebsite: Toronto real estateWebsite: Ontario real estateBlog: Lowest Canada mortgage rates
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