It’s a new record for 5 year fixed mortgage rates at 2.74%! How much lower can we expect mortgage rates to go as we enter the typically hot spring mortgage season?
BMO’s ultra hot 2.99% 5 year fixed mortgage rate is back! Available for high ratio mortgages, and featuring full service payment options, it looks to be a great deal – but is it in your best interest to lock in low when interest rates may rise?
Earlier this week, we couldn’t believe our eyes when we saw the already ground-level 5 year fixed mortgage rate drop to a record of 2.94% in Ontario. Taking into account the roller coaster nature of these rates, we wondered: how long could this rate stay around? And could it go even lower? Our musings were answered today as rates dipped even lower to 2.89% – and this time, more provinces are getting in on the action.