Interest Rate Update Feb 18 2010

Now that the federal government has made some changes to the mortgage qualification rules it seems to have created more certainty in the mortgage world, so we’re seeing some pricing changes from some of our lenders.

You can see all the latest Edmonton and Calgary mortgage rates here but the big ones everyone wants to know about are:

1 year fixed: 2.37%
5 year fixed: 3.69%
5 year Adjustable Rate Mortgage (or variable, if you prefer): Prime -.40% = 1.85%
7 year fixed: 4.95% – for those of you who really want to be conservative at a great rate.

If you have any questions, feel free to call one of our great mortgage agents.