7 Year Fixed Below 5 Percent

For the first time in quite awhile we’ve just had a lender (TD Canada Trust) drop their 7 year fixed rate below 5 percent, at 4.95%. The 10 year rate also went down to 5.20%.

If you’re skeptical about rates and think they’ll go up big-time with inflation pressures as the economy recovers, then this may be a good choice for you.

Frankly it’s still a big premium to pay over a 5 year fixed at 3.69% but for those who really want long-term security and are willing to pay, it could be exactly what they need.