This week Canada

The Week — Canada’s heavy hitters were out in force thi sweek, providing ample monetary and fiscal support for the country’s fledgling recovery.

Mr. Carney re-iterated his commitment to keep borrowing costs low, while Mr.Harper outlined the massive federal spending initiatives that will be growth supportive later this year and next.


Our Best Rates

TermsPosted Rates
Our Rates 6 MONTHS4.75%3.95% 1 YEAR3.90%2.75% 2 YEARS4.05%3.05% 3 YEARS4.15%3.65% 4 YEARS4.84%3.99% 5 YEARS5.25%4.28% 7 YEARS6.60%5.25% 10 YEARS6.70%5.25%
Rates are subject to change without notice. *OAC E&OE

Prime Rate is typically 2.25%.*

*Currently, Prime rate may vary according to lender.
Be sure to check for full variable-rate mortgage pricing details. Rates are subject to change without notice. Fixed mortgage rates shown in table above and quoted variable mortgage rates are available nationally to qualified individuals. Lower rates may be available in certain regions, or to those with higher credit scores or higher net worth – check with your Invis mortgage professional for full details.CMHC Survey

Canadian Home Purchasers Savvy and Optimistic:

CMHC Nearly 90 per cent of recent home purchasers across the country believe that home ownership is a good long-term investment and that almost 70 per cent think that now is a good time to purchase a home in their community. That’s according to the 2009 Mortgage Consumer Survey by the Canada Mortgage and Housing Corporation (CMHC). The survey results also indicate that recent purchasers are knowledgeable about the mortgage process and their lender’s assessment of eligibility.

For example, 86 per cent are of the view that the level of total housing and other monthly payments should generally not exceed 40 per cent of gross household income, which is in line with generally accepted mortgage lending practices.

The survey shows that recent purchasers are prudent mortgage managers. According to the survey, 75 per cent of purchasers have a goal to be mortgage free sooner than their original amortization. In fact, 20 per cent of recent purchasers report having made a lump sum payment to their mortgage.

Similar to CMHC’s last Mortgage Consumer Survey, the 2009 survey also indicates that Canadians continue to be well served by the mortgage industry, with 77 per cent of recent mortgage purchasers expressing satisfaction with the service received from their lender or broker.