Money Matters Toronto

As expected the Bank of Canada announced this morning that they would leave the prime interest rate unchanged, citing economic development to be proceeding as expected. The Bank of Canada has also reiterated it’s commitment to keep the prime rate unchanged until at least July 2010,
pending controlled inflation. Click here to read the full Press [...]

Toronto Mortgage Interest Rates:
Fixed 5 year – 4.09%
Fixed 3 year – 3.39%
Variable 5 year- 2.55% (effective rate)
Variable 3 year – 2.40% (effective rate)

Canadian 5 yr bond yields -0.03 bps to 2.49 – Four weeks ago it was 2.65%. The spread, based on 5 yr fixed rate mortgage of 4.29%,  is at 1.80%.
Pressure on fixed 5 [...]