March 9th 2013 Mortgage Rates

On March 6, 2013, The Bank of Canada, kept its benchmark overnight interest rate at 1.0% for the 20th consecutive time. The benchmark rate has been at 1.0% for more than 30 months. The next interest rate announcement is scheduled for April 17th.

The Bank of Montreal lowered its 5 Year rate to 2.99% from 3.09% on March 4th. They had made a similar move last year to attract business from its competitors.

Other financial institutions may offer lower rates and depending on your relationship with your bank, you may be able to negotiate a lower rate than their posted rate. Mortgage Brokers can also negotiate lower rates on your behalf. The terms and conditions of mortgages can vary and you should ensure that they suit your needs.

Cannex posts mortgage rates from various financial institutions. These rates can be found at http://www.cannex.com/public/mort02e.html

Mortgages: Closed, variable to 5 years

Financial Institution

Term

Variable

6 Months

1 Year

2 Years

3 Years

4 Years

5 Years

AGF Trust

-

4.650

3.040

3.200

3.240

3.340

3.490

ATB Financial

2.600

4.000

3.100

3.140

3.550

4.390

3.040

Alterna Bank

3.000

4.000

3.050

3.090

3.090

2.990

3.190

Alterna Savings

3.000

4.000

3.050

3.090

3.090

2.990

3.190

Bank of Montreal

3.100

4.000

3.000

3.040

3.550

4.540

5.140

Bank of Nova Scotia

3.100

4.550

3.750

3.890

3.990

4.390

4.990

Boomerang Credit Union

3.200

-

3.000

3.040

3.650

4.640

3.180

Bridgewater Bank

-

-

3.240

3.390

3.150

3.570

3.200

CIBC Mortgages

3.200

4.450

3.000

3.140

3.650

4.390

5.240

Caisses Desjardins

3.200

4.400

3.090

3.140

3.700

4.640

5.240

Canadian Western Bank

3.200

4.000

3.000

3.040

3.650

4.540

5.240

Canadian Western Trust

3.200

4.000

3.000

3.040

3.650

4.540

5.240

DUCA Financial Services

3.000

4.500

3.100

3.150

2.990

3.200

3.090

Effort Trust

-

4.450

3.250

3.600

3.900

4.500

4.950

Equitable Trust

-

-

3.000

3.040

3.550

4.540

5.140

First Calgary Financial

-

4.000

2.390

3.140

2.990

3.290

3.290

First National Financial

2.800

3.950

2.740

2.690

2.790

2.990

2.990

FirstOntario Credit Un.

2.790

4.240

2.990

3.140

3.190

3.240

2.970

HSBC Bank Canada

3.100

4.450

3.600

3.950

4.450

4.990

5.240

Home Trust Company

-

3.950

2.740

2.490

2.890

3.150

2.990

ICICI Bank Canada

3.050

-

3.150

3.650

3.640

3.690

3.440

ING Direct

3.000

-

3.000

3.000

2.790

3.250

3.080

Investors Group Trust

3.000

4.000

3.000

3.140

3.650

4.640

5.240

Laurentian Bank Canada

3.200

4.400

3.090

3.140

3.700

4.640

5.240

League Svgs & Mortgage

-

4.000

2.890

2.890

2.890

3.090

3.090

Libro Financial Group

-

3.900

3.300

3.500

4.000

4.200

3.280

London Life

3.000

4.000

3.000

3.140

3.700

4.640

5.240

Manulife Bank

3.000

4.450

3.000

3.050

3.100

3.100

3.090

Manulife Trust

-

4.450

3.000

3.050

3.100

3.100

3.090

Meridian Credit Union

2.850

4.450

3.100

3.140

3.700

2.980

3.190

National Bank

3.200

4.000

3.100

3.140

3.700

4.640

5.240

Ontario Civil Service CU

3.000

6.000

2.990

3.140

3.240

3.300

3.240

PACE Savings & Credit Un

-

4.000

3.100

3.140

3.790

4.640

5.240

Parama Credit Union

2.900

-

3.000

-

3.150

3.250

3.400

Peace Hills Trust

-

4.500

3.100

3.350

3.600

3.850

3.950

President's Choice Fin'l

3.200

6.040

3.140

3.200

3.240

3.350

3.440

RMG Mortgages

-

-

2.490

2.590

2.890

3.090

3.240

Royal Bank of Canada

3.000

4.000

3.000

3.040

3.550

4.540

5.140

Servus Credit Union

-

4.000

3.000

3.040

3.650

4.390

5.240

Steinbach Credit Union

-

-

2.500

2.600

2.800

2.900

3.100

T-D Mortgage

3.200

4.000

3.000

3.040

3.650

4.640

5.240

Teachers Credit Union

-

-

3.050

3.150

3.600

3.890

4.090

Windsor Family C.U.

-

4.450

3.200

3.150

3.700

4.640

5.190

Your Neighbourhood C.U.

-

-

3.150

3.250

3.350

3.390

3.190


Prepared by CANNEX on March 9, 2013 at 01:06:18 ET.
This information is current as of the date and time posted and is subject to change without notice.
© Copyright 2013 CANNEX Financial Exchanges Limited. All rights reserved.
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Donald Lum

Donald Lum

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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