Uncategorized • 10 January 2023

Mortgage Rates at the Start of 2023

by Barbara Scarlett

Mortgage Rates at end of December, 2022

The 5-yr fixed high ratio 5.40% to 5.74%.
The 5-yr variable high ratio: 5.50% to 6.40%
The 5-year fixed conventional: 5.10% to 6.14%
The Prime Rate is 6.45%

NOTE: Rates shown are for “A” rated deals only and don’t apply for BFS, rentals, vacation homes, second home purchases, etc.

There will be a lot of predictions,but what is important is the “NOW”. Let me guide you in any of your real estate concerns, Drop me a line!

Stress Test Qualifying Rate at 5.25% applies to high ratio and conventional mortgages. Mortgage lenders use the greater of the qualifying rate or the contract rate plus 2 points.
Rates are Based On Approved Credit, May vary between geographic areas
(Source: Centum Financial Group Inc.)

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