Interest Rates Slipping Below 5% For Some Mortgage Offerings

Insured fixed interest rates for five-year mortgages in Ontario have fallen below 5% for the first time since spring, with lenders such as Equitable Bank, THINK Financial, and MCAP offering better rates due to a cooling bond yield market. These lower rates are only available for insured mortgages. Future Bank of Canada rate cuts may increase buyer confidence, and rates may decrease further if the overnight lending rate drops. Borrowers are encouraged to compare rates.

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