I was talking with my friends at Mortgage Architects and it looks like mortgage interest rates have headed down again!
One year fixed mortgages have dropped to as low as 2.39% for those with the best credit. Wtih prime at 3.0% that's a pretty sweet deal!
Five year rates start at 3.09%, 10 year at 3.89%, and variable 5 year rates start at 2.75%
With great rates like this, and great prices on homes, this could be the time to upgrade or get into the market. Don't forget, there are also great incentives from the government for first time buyers such as a $10,000 tax refund (restrictions apply) and no property transfer tax. Feel free to give us a call or leave a comment if you would like more details.
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