National Bank Financial Adjusts Mortgage Rate
- Saturday, November 21, 2009, 9:08
- Carousel, Finance, Mortgages
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National Bank Financial Group has adjusted its rates for residential mortgages. There are several adjustments made in their fixed rate closed term and the variable rate closed term.
The new rates are to take effect as of November 23rd, 2009.
The changes in the rates for residential mortgages are as follows:
| TERM |
CURRENT RATE (%) |
NEW RATE (%) |
CHANGE |
| FIXED-RATE OPEN TERM |
|
|
|
| 6 months open |
7.000 |
7.000 |
0.000 |
| 1 year open |
7.250 |
7.250 |
0.000 |
| FIXED-RATE CLOSED TERM |
|
|
|
| 3 months closed |
3.750 |
3.600 |
-0.150 |
| 6 months closed |
3.750 |
3.600 |
-0.150 |
| 1 year closed |
3.750 |
3.600 |
-0.150 |
| 2 years closed |
3.950 |
3.750 |
-0.200 |
| 3 years closed |
4.450 |
4.250 |
-0.200 |
| 4 years closed |
5.290 |
5.190 |
-0.100 |
| 5 years closed |
5.840 |
5.590 |
-0.250 |
| 7 years closed |
6.600 |
6.600 |
0.000 |
| 10 years closed |
6.950 |
6.750 |
-0.200 |
| VARIABLE-RATE CLOSED TERM |
|
|
|
| 5 years Variable rate (discount included) |
2.250 |
2.250 |
0.000 |
| 5 years Saver |
3.400 |
3.250 |
-0.150 |
| 5 years Capped rate |
2.900 |
2.900 |
0.000 |
| Capped rate |
5.840 |
5.590 |
-0.250 |
With the changes made in National Bank of Canada’s rates for residential mortgages, the time is now if you want to secure a low rate, while making your investment into a house.
Just be sure not to stretch yourself too thing as rates are bound to go up, and in time your low rate will be gone and you are stuck with a high rate to deal with.
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