YOUR CANADIAN MORTGAGE BROKER

August 17, 2010

Canada's major banks reduce mortgage rates again

Five of Canada's major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.

The posted five-year closed mortgage rate is now 5.49 per cent annually for the Royal Bank of Canada, Bank of Montreal, scotiabank, CIBC and Laurentian Bank.

RBC was the first to announce the rate cuts on Monday. It is the second time major banks have trimmed their rates this month, and follows the report from the Canadian Real Estate Association that home sales were down 6.8 per cent in July from the previous month.

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BREAKING NEWS

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September 1, 2010
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again.
August 25, 2010

CALGARY - It's taking Calgarians longer now to sell their homes on the MLS market.

According to preliminary unofficial data on the website of realtor Mike Fotiou, of First Place Realty, so far this month up until Sunday the average days on the market for a single-family home to sell was 52 while it was 53 days for condominiums.

August 17, 2010
Five of Canada's major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.
August 11, 2010
When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest.

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