RESIDENTIAL MORTGAGE RATES EFFECTIVE: August 6, 2009
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Prime Rate = 2.25%*
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TERM
(fixed)
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Bank
Rate
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BEST
Broker
Rate
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1 Year
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3.75
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2.75
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2 Year
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4.05
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3.05
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3 Year
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4.65
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3.59
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4 Year
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5.14
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3.99*
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5 Year
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5.85
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4.19
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7 Year
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6.80
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5.35
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10 Year
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6.90
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5.25
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15 Year
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9.55
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9.25
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18 Year
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9.55
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9.25
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25 Year
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9.65
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9.35
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Variable Rate
Mortgages
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Prime + 0.40%
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2.65
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Did you know that the $750 tax credit for First-time Buyers may not be just for First-time home buyers?
According to well-established accounting firm, Curtis & Co, a person will qualify as a first-time home buyer if neither the individual nor his or her spouse or common-law partner owned and lived in another home in the year of the home purchase or in any of the previous four years.
The tax credit is 15% of $5,000 (or $750 for 2009) and is claimable in the year in which the home is acquired.
There are certain terms and conditions that must be met for this tax credit to be utilized, so to obtain full details, please visit, http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m02/nr090202-eng.html
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- Gibbard Hoffart Financial Group
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#103-145 West 15th Street
North Vancouver
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This entry was posted on August 6th, 2009
| Posted in Mortgage Information