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Interest Rates

Posted Rate	Term	Our Rates*
3.75%	1 Year	2.60%
4.05%	2 Years	3.25%
4.60%	3 Years	3.45%
5.29%	4 Years	3.89%
5.78%	5 Years	3.65%
6.10%	6 Years	4.65%
6.60%	7 Years	4.79%
6.70%	10 Years	5.19%
2.75%	VRM 5 Years	2.15%
2.75%	VRM 3 Years	2.05%
4.05%	Open Rate	3.55%
2.75%	Prime Rate	2.75%
6.00%	5 Years 5% cash back	5.49%
7.10%	6 Years 5% cash back	5.80%
7.50%	7 Years 5% cash back	6.19%
7.80%	10 Years 5% cash back	6.50%

*Rates are subject to change without notice.
*Conditions Apply
*OAC

Mortgage Transit Inc.
Brokerage#11923
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TEL: (905)237-5345
FAX: (905)237-5441

News and Updates

Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010.

All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term;
The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home;
Non-owner occupied properties will require a minimum down payment of 20%.

There were no changes to down payment requirements or length of amortizations for owner-occupied residences.
For additional details on the changes - click here


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