Canada Mortgage Rate Update
After moving from 3.69% to 3.59% two weeks ago, the five year fixed rate has yet again dropped with a few lenders in Canada. Pre-Approval can be held for 120 days.
in May 2013, five year fixed rates were near an all time low- 2.79-2.89% range; after a quick surge into the high 3% range, five year money has continue to adjust back down. I expect rates to continue to reduce over the next month by at least 0.10%.