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Bank of Canada Cut Rates to Record Low - Dreyer Group Mortgages - Jan 20

 

The Bank of Canada has chopped its key interest rate by another 50% to its lowest rate ever. The banks did follow immediately today and lowered their prime lending rates to 3% from 3.5%. As well, good news finally for fixed rate mortgage holders, the banks lowered all their fixed rates mortgages today. The best 5 year fixed mortgage rate is 4.49%. Because of our large volumes, we can offer the same 5 year fixed mortgage rate at 4.39%. Good news too for those in variable rate mortgages whos rate is tied to the incredibly low prime rate.

If you or anyone you know are in need mortgage financing, give me a quick call. Now is the time to borrow or recheck your existing mortgage to see if switching it to a new rate make sense and saves you money.

On your side. Jared Dreyer Accredited Mortgage Professional 604 649-5991