InvestInNewWest.com

778-892-8144
 

Mortgage rates are holding fairly steady these days and are still quite affordable. It's looking like the best rate you can find on a 5 year fixed mortgage is around 3.19% which would put a monthly payment at $484.15 per $100,000.00 of lending on a 25 year mortgage amortization. 

 

For Example, if you bought a condo for $300,000.00 and put 20% down (60k) the mortgage would be roughly $240,000.00 and the monthly payment would be 2.4 x $484.15 equalling $1161.96 per month. 

 

I personally expect these to slowly creep up as the year progresses due to evidence of economic growth.

LINK: http://listserv.realtorlink.ca/read/archive?id=22195&e=michaelsheldrake%40remax.net&x=d3baeb7f

 

If you want more information on current rates visit Stephen Ewen's site. He is a mortgage broker with Dominion Lending Centres. 

 

LINK: http://www.stephenewen.ca/current-rates?homepurchase

Post CommentComments: 0Read Full Story