Scotiabank Adjusts Mortgage Rates
Scotiabank announced on October 13th changes to its residential mortgage interest rates. The residential mortgage rates have increased slightly, and will be effective on October 14th 2009.
With the increase in residential mortgage rates, it goes to show that the economy is doing well to the point for this to happen; or one might say that the housing market is doing well enough for this to happen.
The changes are as follows:
| Six month flexible closed |
4.65% |
increases by 0.10% |
| Six month open |
6.50% |
increases by 0.10% |
| Three year closed |
4.75% |
increases by 0.30% |
| Four year closed |
5.30% |
increases by 0.35% |
| Five year closed |
5.84% |
increases by 0.35% |
| Seven year closed |
6.60% |
increases by 0.10% |
| 10 year closed |
6.95% |
increases by 0.10% |
Scotiabank offers the following special discounted rates on residential mortgages:
| One year fixed closed |
2.55% |
No change |
| Fiver year fixed closed |
4.54% |
increases by 0.35% |
Scotiabank has made several changes, however the mortgage rates offered are still competitive with other larger banks.
You have to remember, that will the special discounted rates, and they are not posted rates of Scotiabank. These rates are subject to change without notice. Offers can be with withdrawn or extended without notice and they cannot be combined with any other rate, discounts, offers, or promotions.
If you are looking for the perfect mortgage rate, do not waste any time because banks everywhere are raising their rates. It will only be a matter of time before they reach levels seen in the past.
Clay
Amy @ JobCred CV Builder
Keith Penny
Penn