2.89% Mortgage Rate – 5 Year Fixed

A 5 year fixed rate at 2.89% is now available for your home purchase, refinance or renewal with Darin Bauer at Mortgage Intelligence. This special rate promotion comes with a 120 day rate hold, pre-payment privileges of 20% , payment increase option of 20% and is portable and assumable. Bond yields continue to stay at historically low levels but an increase could happen at anytime. Apply today to lock in the best mortgage rate available.

The average rate for a 5 year fixed mortgage at most Banks and Lenders in Canada is currently around 3.19%.This special promotional rate of 2.89% for 5 years fixed is substantially lower and could save you thousands in interest over the length of your term. Most clients are applying for a fixed rate at this time due to the fact that variable rates do not offer the same discount as in recent years. Most variable rate mortgages are at 2.80% currently and only one quarter point increase by the Bank of Canada would put that mortgage rate over 3%. Therefore the popularity of fixed rates are much more evident in todays’ mortgage market.

Consider refinancing your existing mortgage or applying today if you have a mortgage renewal coming up soon. A mortgage refinance at this lowest mortgage rate of 2.89% can be very beneficial in many ways even if your existing mortgage is not up for renewal yet. Paying a small penalty now to refinance can have major advantages instead of waiting another year or two for your existing mortgage to reach it’s maturity date. You can save money now by lowering your existing mortgage rate and also secure this 2.89% rate before it’s gone. Payoff higher interest debts and loans as well by refinancing your mortgage now. Otherwise , if you wait until your maturity date you could easily be renewing at much higher rates such as 4% or higher.

Apply online today for this special 2.89%,  5 year fixed rate offer at www.TorontoMortgageSite.com .

 

 

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