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 | 4.75% | 4.60% | |
| 1 Year | 2.30% | 3.65% | |
| 2 Year | 2.90% | 3.95% | |
| 3 Year | 3.25% | 4.50% | |
| 4 Year | 3.84% | 5.19% | |
| 5 Year | 3.74% | 5.59% | |
| 7 Year | 4.99% | 6.60% | |
| 10 Year | 5.10% | 6.70% | |
Prime Rate is currently: 2.25%
Closed Variable Rate: Prime - 0.40
HELOC (Home Equity Line of Credit) - 2.85% (prime+0.60%)
Ask about 35 year Amortization Mortgages
*Increase of allowable debt servicing ratios from 40% to 44% of income*
Calgary Mortgage Forecast
Bank of Canada to keep watchful eye on real estate: TD report
Although inflation remains a low risk in Canada, the Canada's Central Bank may raise rates earlier than expected if the strong rebound in Canadian house sales and resale home prices continues, according to a new report by TD Economics.
"The Bank's view at the moment is that the recent resurgence in real estate is temporary, but if it does not moderate in the coming year - or worse still if price growth accelerates - it could lead to an earlier and more substantial tightening in policy than currently anticipated," the report read.
Despite the warning, TD Economics also said that it expects to see a cooling of home sales and prices in the coming months due to pent-up demand being absorbed, dampened affordability and weak economic fundamentals.
"Overall, the most likely scenario is that the home sales growth will moderate and home price growth will not become excessive," the report read. "Recent comments from the Bank of Canada suggest they also believe the recent strength in MLS readings is temporary."
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