Buy now to get an unheard-of rate for a 10-year mortgage| Toronto Real Estate Blog #Toronto #realestate

Banks are vying for property buyers by slashing their mortgage rates. - Banks are vying for property buyers by slashing their mortgage rates. | RAFAL GERSZAK FOR THE GLOBE AND MAIL

Rob Carrick

Buy now to get an unheard-of rate for a 10-year mortgage

Rob Carrick | Columnist profile | E-mail

From Tuesday’s Globe and Mail

There’s a brilliant reason to get into our expensive and quite possibly weakening housing market right now.

A 10-year mortgage is now available for under 4 per cent. You can thank the banks for this unheard-of rate. In the past week or so, competition between them on mortgage rates has gone nuclear.

More related to this story

 

Term Rate (with a top discount)
One year 2.59% – 2.84%
Two year 2.59% – 2.69%
Three year 2.89% – 2.99%
Four year 2.99% – 3.09%
Five year 2.99% – 3.29%
Seven year 3.84% – 3.99%
10 year 3.84% – 3.99%

Source: RateHub.ca, MonsterMortgage.ca

Today (Jan. 17) at noon (ET), Vince Gaetano of MonsterMortgage.ca joins The Globe and Mail for a live discussion about mortgage rates, where they are heading and what home owners should consider when making decisions about borrowing.

Mobile users can join the discussion by clicking here.

 

 

For more personal finance coverage, follow me on Twitter (rcarrick) and Facebook (Rob Carrick).

 

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About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

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