Today's Best Mortgage Rates

***** Mortgage Rates Last Changed - August 8, 2018 *****

Today's Prime Lending Rate	3.70%	Next Meeting - September 5, 2018
Variable Rates: *
Home Equity Line of Credit	P + .50%	No Change
3 Year Closed	P - .50%	No Change
5 Year Closed - CMHC insured purchases and transfers only	P - 1.00%	.09% Decrease
Fixed Rates: **
1 Year Closed	2.99%	No Change
2 Year Closed	3.29%	.05% Increase
3 Year Closed	3.44%	No Change
4 Year Closed	3.54%	.15% Increase
5 Year Closed - Conventional - Refinances (25 year amortization or less)	3.64%	..30% Decrease
5 Year Closed - Available for purchases and transfers only	3.34%	No Change
7 Year Closed	3.59%	.20% Decrease
10 Year Closed	3.89%	.20% Decrease

Bank of Canada Qualifying Rate - see below	5.34%	No Change

*Interest rate is compounded monthly, not in advance. Variable rate mortgages offers you a low variable interest rate based on the prime rate over a 5-year fixed term. The prime lending rate represents a variable rate of interest announced by the lender from time to time as its Prime Lending Rate. Rates subject to change without notice.
**The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees, such as legals costs and/or appraisal costs, which would increase your APR. Rates subject to change without notice.

Bank of Canada May 30 2018 Meeting News
The Bank of Canada maintained its overnight borrowing rate at its May 30 2018 interest rate meeting. Next meeting September 5 2018. Though there is a willingness for a further increase, I would expect the Bank of Canada will take a gradual approach to further policy adjustments.

The Bank of Canada Qualifying Rate is used to qualify high-ratio insured mortgages, variable rate mortgages, and for all federally regulated lenders.