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Current Prime Rate is 2.25%.

TERM	MARKET	BEST
6 Month	4.60%	3.85%
1 Year	3.65%	2.49%
2 Year	3.95%	2.95%
3 Year	4.50%	3.40%
4 Year	5.14%	3.69%
5 Year	5.49%	3.74%

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Lower rates may be available under certain conditions -
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Mortgage Blueprint 2009
Canadians are definitely talking about the economy – what the government should do about it, what’s happening in their own industries.
Read on

Act now before the Rules Change!
There is likely going to be a flurry of activity before April 19 - as many take advantage of the existing rules and move up purchases and refinances. If you want to take advantage, call us today!....Read on

Market Update

North American markets are powering forward this morning after US employment data was better than expected, sending the TSX index to its highest level since early January.............Read on

New Mortgage Rules

Finance Minister Jim Flaherty has announced three new mortgage rules effective April 19, 2010; but there is no reason for alarm - these new mortgage rules won't affect most homeowners or buyers! Here's the quick rundown on what's new on April 19, 2010

A) Qualifying to buy a home - think 5 year fixed rate! Mortgage qualifying is now based on a 5 year fixed rate mortgage, even if you opt for a shorter term now and/or a lower rate. Most lenders were already qualifying on the 3 year fixed rate, which means this should not affect too many homebuyers. With 5% down and a 35 year amortization on a $300,000 home, a buyer would need about $7,400 more in annual income under the posted 5 year fixed rate versus the 3 year rate.

B) Refinancing your current home - protect at least 10% of your equity! There are common sense limits to using your home as a piggy bank, but now the new rules dictate that you must protect at least 10% of your equity, up from 5% - primarily affecting those who are overextended on high-interest debt.

C) Investors - you need 20% down on an investment property. This is a change that primarily affects investors. If you're not personally living in a property that you own - such as a second home or a rental property - you will now need a minimum down payment of 20% (up from 5%).