Calgary Mortgage Rates
Commercial banks often charge in excess of 1 full percent (100 basis points) more than Preferred Lenders (Calgary Mortgage Broker) for the same mortgage product. If you'd like more information on Calgary mortgage rates or to speak with a Calgary mortgage broker, give us a call at 703-2404 or contact us today.
Calgary Mortgage Information
| Current Calgary Mortgage Rates* | |||
| Term | Preferred Rate | Bank Rate | |
| 6 Month | 4.65% | 4.75% | |
| 1 Year | 2.75% | 3.90% | |
| 2 Year | 3.05% | 4.05% | |
| 3 Year | 3.59% | 4.15% | |
| 4 Year | 3.99% | 4.84% | |
| 5 Year | 4.29% | 5.45% | |
| 7 Year | 5.05% | 6.80% | |
| 10 Year | 5.15% | 6.90% | |
Prime Rate is currently: 2.25%
Closed Variable Rate: Prime + 0.40
Open Variable Rate: Prime + 0.80
Ask about 35 year Amortization Mortgages
*Increase of allowable debt servicing ratios from 40% to 44% of income*
Calgary Mortgage Forecast
Senior Economist Benjamin Tal (CIBC World Markets) was in Calgary the first week of June where, among other things, he talked about Canadian mortgage rates and where they are expected to go from here. For those not interested in taking a chance with the market, Tal recommends locking into a 5 yr fixed mortgage and for some, a good 7 or 10 yr fixed rate would be a good idea. While prime is expected to remain at 2.25% for the balance of this year and likely midway into 2010, rates will increase and quickly says Tal. What we've been experiencing are 'emergency rates' which are not normal and will not likely be seen again in our lifetimes, so TAKE ADVANTAGE!
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