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TODAY'S RATES

Fixed Rate Mortgages

1 Year	2.44%
2 Year	3.09%
3 Year	2.90%
4 Year	3.54%
5 Year	3.60%
6 Year	4.39%
7 Year	4.70%
10 Year	5.04%

Cash Back Mortgages

5 Year 5% Cashback 5.39%
7 Year 5% Cashback 5.90%

Variable Rates

1 Year Variable Rate Closed
Prime – 0.30% (2.70%)

3 Year Variable Rate Closed
Prime – 0.70% (2.30%)

5 Year Variable Rate Closed
Prime – 0.70% (2.30%)

5 Year Variable Rate Open
Prime + 0.80% (3.80%)

Secured Line of Credit

Minimum payments interest only Prime + 0.50% (3.50%)

Prime Rate Today is 3.00%

Rates subject to change without notice

Updated as of September 8, 2010

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Lines of Credit

The Home Equity Line of Credit is a line of credit set up with the use of the equity in your property as security. As you pay down the mortgage on your property, the increase in equity in your property can be used to lower your borrowing costs. A regular line of credit obtained at a bank usually has an interest rate of Prime + 3.00%. When the equity in your home is used as security for the line of credit, the line of credit in many cases can be approved at an interest rate of Prime + 1.00%.

Buy Another Property

The Home Equity Line of Credit can be used towards making a down payment for a purchase of another property, investments, paying for your child’s schooling, home renovations, debt consolidations, or whatever you wish. The line of credit is flexible in the sense that the minimum monthly repayments required are normally the interest only. Also, full repayment of the line of credit can be made at any time with no penalties. Afterwards, the line can be drawn on again at any time.

How Much Can I Get?

The Home Equity Line of Credit can be set up against your home on the most part up to a maximum loan to value of 80%. The Home Equity Line of Credit can be set up on your property both as a first mortgage or behind your existing first mortgage as a second mortgage. For example, if you have an existing mortgage with one bank, the line of credit can be obtained at another bank and the line of credit can be placed in addition to your existing mortgage against your property.