Interest rates have become lower over concern about global economic growth. If you are considering a five-year fixed-rate mortgage that’s great news as they have have recently come down to levels that are close to their all-time low.
Courtesy of CanadaMortgageNews…
We haven’t seen the bond market this low since November 2010. The current 5 year Canadian Bond yield is 2.24%. It’s only been below 2.00% a couple of times… Just after the 2008 U.S. mortgage crisis from December 2008 to January 2009 and late last year in October 2010.
Last year we saw the 5 year fixed mortgage rates hit an all time low of around 3.49%. Today’s best 5 year fixed rate is hovering at around 3.79%…. Could be even be more room for fixed rates to drop….
Enjoy the low rates!