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Tell that to the 5.1% rate a friend of mine just got on a new home purchase with >20% downpayment. I dunno if rates are a lot better in Canada or something, but
by noirbot 5y ago
Tell that to the 5.1% rate a friend of mine just got on a new home purchase with >20% downpayment. I dunno if rates are a lot better in Canada or something, but we're already in 5-6% range in the US for some properties. They had excellent credit too.
- freeone3000 5y agoRates are better in Canada. 2.3% is within the norm.
- jejeyyy77 5y agoInterest rates are still at 2.5% in Canada. Still a ways off from 5-6%.
- jdsully 5y agoUS mortgages are 30yr fixed. In Canada you cannot get a fixed rate for that long and 5 years is the norm - everyone here effectively has an ARM. This is why rates are almost always higher in the US.