Centum Pacific Mortgages vancouver BC Bank rate dropes .50%

Monday, December 15, 2008

Bank Rate drops .50%

The Canada Prime Rate drops .75%, however the Lenders have only dropped .50%. We are still looking at Variable products at .60 to 1.00% about Bank Prime.  On Friday, Dec 12, we noticed many of the Lenders dropping their Closed fixed rates to under 5%. Some as low as 4.95% for a 5 year term. Plus, the Lenders are looking at dropping even further if you can complete a sale within 30 days, offering a futher deep discount to 4.79% for a five-year term.

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