Mortgage Rates in Toronto Ontario October 2013 – US Shutdown

The month of September saw pressure build in the bond market which has resulted in fixed mortgage rates moving higher. More recently the US Federal Government shutdown causing the trend to reverse for the short term. Meanwhile the Bank of Canada’s qualifying rate has remained steady. The prime lending rate is also holding keeping interest rates on variable and home equity lines of credit unchanged. Here is what you need to know for your best October mortgage today:

Bank Of Canada Rates

Qualifying Rate: 5.34%                 Prime Rate: 3.00%

As of this writing we have a qualifying rate of 5.34%. This affects all mortgage qualification outside of the popular 5 year fixed mortgage. On the variable and line of credit mortgage products – the Bank of Canada’s prime rate is holding steady at 3.00%.

Fixed Mortgage Rates – US Shutdown Effect

When we look at fixed mortgage rates – we have to understand that the bond market dictates the interest rates you and I pay. As of this writing there are changes which are moving interest rates lower. The US Federal Government shutdown is affecting our Canadian markets causing a respite to the ongoing trend for rising fixed interest rates. This may change as quickly as an agreement is reached. I have access to a number of lenders who are lowering rates in the immediate so contact me as soon as possible. Here is the best of what is available today:

3.54 Percent Five Year Fixed Mortgage Rate – My Best Offer – Contact Me

Remember – if you are pursuing any fixed mortgage term less than 5 years – you will be required to utilize the 5.34% qualifying rate to see if you can afford the mortgage. This makes the 5 year fixed mortgage term that much more popular. As of this writing – there is available a five year fixed rate mortgage with an interest rate of 3.54%! The exciting part of this mortgage product is not only the interest rate but in addition it comes with full 20% prepayment privileges and a 30 day rate hold. This mortgage is only available by referral and is a time limited offer time so please reach out to me to ensure you will qualify based on your credit and income.

Fantastic Variable Rate Mortgage

With the overall increase in fixed interest rates over the last 90 days – the variable rate mortgage is becoming more attractive. I have a limited time offer for you to take advantage of.

2.55 Percent Five Year Variable Mortgage Rate – My Best Offer – Contact Me

I have a lender who is offering a 5 year variable rate mortgage today with a discount of 0.45% off of the prime rate. Again as of this writing – you can access a five year variable rate mortgage with an interest rate of 2.55%! This is a featured mortgage with 20% prepayment privileges and a 90 day rate hold. Keep in mind that with variable mortgages – you will need to qualify at the Bank of Canada’s rate of 5.34% to access this low rate mortgage product. This mortgage is only available by referral so please reach out to me to ensure you will qualify based on your credit and income.

Cash Back Mortgage For You

For those who are not content to sit idly by and watch their hard earned dollars go to pay the landlord’s mortgage – there is still available the cash back mortgage providing effectively 100% of your purchase price.

 4.85 Percent Five Year 5 Percent Cash Back – My Best Offer – Contact Me

I have access to a lender today who is offering their cash back mortgage at 4.85%! The plus here is we have full 20% prepayment privileges and a 90 day rate hold. This is an incredible interest rate for a first time buyer to get themselves into a home and not have to wait until they have paid that much more toward someone else’s retirement.

Reach out and contact me today to get access to the best mortgage and we will make the process an easy and stress free one. I can also assist with Debt Consolidation, Private Mortgages, and Self Employed Mortgages. Your questions are always appreciated and answered promptly below.