5 Year Mortgage Rate at All Time Low

This is unchartered waters in that most of the lenders in Canada has reduced their 5yr interest rates below 3.95% for their best clients. Best clients mean people with good credit history, enough income to service the mortgage and good job stability. For those really excellent credit clients, the best 5yr rate for a quick close deal ( a deal closing within 45 days) is currently at 3.69%.

The rates are pretty much at the bottom and now is the time to refinance and lock in as the rates have nowhere to go but up!

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