This last week has brought some great news for people that have been sitting on the fence or are thinking of making a purchase in the Calgary Real Estate market this fall. If you thought that 3.49% interest rate was good on a 5 year fixed mortgage, think again. There are two major banks are now currently offering this mortgage option at 3.09% with a rate hold for 90 days. Another major bank has countered this by offering a 4 year fixed rate mortgage for 2.99%. 

 So if you have a 5 year fixed rate mortgage of 3.09% (Amortized over 30 years) It would cost you $425.40 per month per $100,000 you borrow. At 2.99% this would drop your monthly payment down to $420.07.

If you would like some more details on who these lenders are, feel free to contact us and we can put you in touch with some of our preferred lenders. We anticipate that this will take a lot of people off the fence and make it a very active fall market.