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Old 2020-11-17, 02:16 PM
MortgageGuy MortgageGuy is offline
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Join Date: Jul 2008
Location: Ottawa, Ontario
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Default Nov 17th Mortgage rate update :)

Only change in rates this week is a big one for the 5 yr Variable rate, now reduced to PRIME-1.10 or 1.39% today.(has to be an insured purchase, with a 90 day closing)
Lowest I have ever seen it. Still a gamble though, and an individual choice for variable(chance of changing 10 times a year with the Bank of Canada Rate), as opposed to guaranteed rate and payment on a fixed rate mortgage for up to 10 years, when we are sitting at historical low rates. Food for thought and fights between spouses!
Otherwise rates still at all time lows, the 5 yr fixed rate for an insured purchase(less than 20% down payment) is at 1.60%
90 day closings only, 1.64% for 120 days

Pre-approvals being done at 5 yr fixed 1.99%
Best 5 yr fixed rate with more than 20% down payment…
1.84% for a 65% advance.
1.89% for a 80% advance mortgage.
Best other insured rates…120 day closings
1 yr 1.74%
3 yr 1.74%
Variable 1.39% (Prime - 1.10)
For complete list of rates and terms go to
https://mortgagemoney.ca/best-mortgage-rates/

Dan
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Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

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