November 6th Posted Interest Rates
The following current rates available in the market based on 90 - 120 day rate holds.
Variable Rate 5.10% * five year closed Variable Rate Mortgage
6 mos. convertible 6.10%
1 year open 8.45%
1 year closed 4.99%*
2 year closed 5.35%
3 year closed 5.25%*
4 year closed 5.30%
5 year closed 5.14%*
6 year closed 5.45%
7 year closed 5.55%
10 year closed 5.70%
*Lender may vary and rates subject to change without notice. Some conditions may apply, call for details.
Variable Rate closed 5 year mortgage as low as 5.10%* five year term, no teaser or lost leader rates. Just straight business and the client knows exactly what they are getting right up front.
Variable Rate open 5 year mortgage at 6.00% for full five year term, again no lost leader or teaser rates.
Home Equity Line of Credit - Revolving line of credit mortgage at bank prime (6.00%), interest only payments, can also fix all or any portion to standard conventional mortgage terms with no conversion or legal fees. The line of credit mortgage can also have multiple splits so funds can be earmarked for different purposes for tracking for business, income tax or personal reasons. Still the most flexible and versatile line of credit product on the market.
A quick rule of thumb - at today's rates of 5.30% for a three year term, a purchaser with annual family income of $70,000.00 can qualify for a mortgage of approx. $305,000.00. A lot of buying power available at these incredible rates.
***Source***
Gerry Smith AACI
Manager, Residential Mortgages
TD Canada Trust