The prime rate is currently at 3% and is expected to stay at this level for a bit longer than previously predicted.  Major banks had recently announced a drop of their 5 year rates to 5.39%....however, the best 5 year rate you can currently get is 3.59%.  You can a variable rate mortgage as low at prime minus 0.9%...which means at rate of 2.1%!  How crazy is that!

If you are looking to a buy a home....talk to a mortgage broker.  If you are a current homeowner....now is the time to talk to your bank or mortgage broker to see if you can refinance to today's low rate and save yourself some money.

Check out this video from Rob MacDonald with Invis, Canada's Mortgage Experts.  Rob gives his report and insights...