10 year fixed rate at 3.89%- "Is this real life?"
posted in Mortgage News
10 year fixed rate mortgage at 3.89%*
I'm sure this rate news makes you feel a bit like David after his trip to the dentist, "Is this real life?". Well, it certainly may not seem like it if you consider the average 5-year fixed rate over the past 10 years is just over 6%! Most lenders are offering their 10 year fixed rate around 4.99%; however, one lender in Canada is as low as 3.89%!
You may be wondering… what if I don’t want to live in the same house for 10 years? Good question. The mortgage is fully portable. This means you can keep your mortgage with you for 10 years, regardless of which home you are living in.
The terms of the mortgage are excellent with strong prepayment privileges of nearly 40% per year! Along with being fully portable, it is also transferable; this means at the end of the term you can transfer to a different lender free of charge.
So, whether you are looking to purchase, or your existing mortgage is coming up for renewal, I would recommend you strongly consider this 10 year rate promotion.
Let me introduce myself to you HERE or APPLY NOW!
*Rates are subject to change without notice- OAC. Must be owner-occupied residence.