• imagesTD Bank & RBC led the way today by lowering posted rates on their 3, 4 and 5 year fixed rate terms. The drops ranged from 10-15 bps. A 5 year posted fixed rate is now at 5.39% at both lenders. This is now only 0.14% from the all time low of 5.25%.

    Most brokers are currently offering 5 year fixed rate terms in the 3.79% to 3.99% range. I anticipate that we will see some slight adjustments downwards in the next few days.

    In addition, First National Financial joined Merix Financial today in offering a 3 year variable rate mortgage at Prime less 0.30%. Most major lenders are offering variable rate mortgages between Prime less 0.10-0.20%.

    Both First National Financial & Merix Financial fund their mortgages through brokers.

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