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  • VRM vs. 5 Year Fixed 2004 - 2010

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    This document compares variable and 5-year fixed mortgage rates in Canada from 2004 to 2009. It shows the prime rate set by the Bank of Canada each month along with the adjusted variable rate mortgage (VRM) rate after applying a discount to the prime rate. It also lists the best 5-year fixed rates available each month from a mortgage broker. On average over the 6 years, the VRM rate was 0.93% lower than the 5-year fixed rate, indicating VRMs were typically cheaper than fixed rates during this period.

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    This document compares variable and 5-year fixed mortgage rates in Canada from 2004 to 2009. It shows the prime rate set by the Bank of Canada each month along with the adjusted variable rate mortgage (VRM) rate after applying a discount to the prime rate. It also lists the best 5-year fixed rates available each month from a mortgage broker. On average over the 6 years, the VRM rate was 0.93% lower than the 5-year fixed rate, indicating VRMs were typically cheaper than fixed rates during this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    5 views3 pages

    VRM vs. 5 Year Fixed 2004 - 2010

    Uploaded by

    api-95490490
    This document compares variable and 5-year fixed mortgage rates in Canada from 2004 to 2009. It shows the prime rate set by the Bank of Canada each month along with the adjusted variable rate mortgage (VRM) rate after applying a discount to the prime rate. It also lists the best 5-year fixed rates available each month from a mortgage broker. On average over the 6 years, the VRM rate was 0.93% lower than the 5-year fixed rate, indicating VRMs were typically cheaper than fixed rates during this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 3

    VRM Vs.

    5 year Fixed 2004 - 2010


    Bank Of
    Canada
    2004
    January
    February
    March
    April
    May
    June
    July
    August
    September
    October
    November
    December
    ANNUALIZED
    2005
    January
    February
    March
    April
    May
    June
    July
    August
    September
    October
    November
    December
    ANNUALIZED
    2006
    January
    February
    March

    Bank Of
    Canada

    3.75
    3.75
    3.75
    3.75
    3.75
    3.75
    3.75
    3.75
    4.00
    4.25
    4.25
    4.25
    3.90

    VRM
    Adjustments
    from prime
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75
    -0.75

    4.25
    4.25
    4.25
    4.25
    4.25
    4.25
    4.25
    4.25
    4.50
    4.75
    4.75
    5.00
    4.42
    5.25
    5.25
    5.50

    Prime business

    Adjusted
    Variable Rate

    CME Best Rates

    Posted 5 year Best 5 year Rates

    VRM Vs Fixed

    3.00
    3.00
    3.00
    3.00
    3.00
    3.00
    3.00
    3.00
    3.25
    3.50
    3.50
    3.50
    3.15

    6.55
    6.55
    6.55
    6.55
    6.55
    6.55
    6.55
    6.30
    6.30
    6.40
    6.30
    6.05

    4.65
    4.65
    4.65
    4.65
    5.05
    5.27
    5.10
    4.90
    4.97
    4.97
    4.90
    4.65
    4.87

    1.65
    1.65
    1.65
    1.65
    2.05
    2.27
    2.10
    1.90
    1.72
    1.47
    1.40
    1.15
    1.72

    -0.75
    -0.75
    -0.80
    -0.80
    -0.85
    -0.85
    -0.85
    -0.85
    -0.85
    -0.85
    -0.85
    -0.85
    -0.83

    3.50
    3.50
    3.45
    3.45
    3.40
    3.40
    3.40
    3.40
    3.65
    3.90
    3.90
    4.15
    3.59

    6.05
    6.05
    6.25
    6.05
    5.95
    5.70
    5.80
    5.80
    5.80
    6.00
    6.15
    6.30

    4.72
    4.62
    4.62
    4.68
    4.63
    4.20
    4.20
    4.38
    4.35
    4.35
    4.82
    4.82
    4.53

    1.22
    1.12
    1.17
    1.23
    1.23
    0.80
    0.80
    0.98
    0.70
    0.45
    0.92
    0.67
    0.94

    -0.85
    -0.85
    -0.90

    4.40
    4.40
    4.60

    6.30
    6.45
    6.45

    4.85
    4.94
    5.04

    0.45
    0.54
    0.44

    April
    May
    June
    July
    August
    September
    October
    November
    December
    ANNUALIZED
    2007
    January
    February
    March
    April
    May
    June
    July
    August
    September
    October
    November
    December
    ANNUALIZED
    2008
    January
    February
    March
    April
    May
    June
    July
    August
    September
    October
    November
    December
    ANNUALIZED
    2009
    January
    February
    March
    April
    May
    June
    July
    August

    5.75
    6.00
    6.00
    6.00
    6.00
    6.00
    6.00
    6.00
    6.00
    5.81

    -0.90
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.93

    4.85
    5.05
    5.05
    5.05
    5.05
    5.05
    5.05
    5.05
    5.05
    4.89

    6.75
    6.75
    6.95
    6.95
    6.85
    6.70
    6.80
    6.55
    6.45

    5.12
    5.23
    5.23
    5.45
    5.29
    5.25
    5.05
    5.05
    4.99
    5.12

    0.27
    0.18
    0.18
    0.40
    0.24
    0.20
    0.00
    0.00
    -0.06
    0.24

    6.00
    6.00
    6.00
    6.00
    6.00
    6.00
    6.25
    6.25
    6.25
    6.25
    6.25
    6.00
    6.10

    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.95
    -0.85
    -0.75
    -0.75
    -0.75
    -0.89

    5.05
    5.05
    5.05
    5.05
    5.05
    5.05
    5.30
    5.30
    5.40
    5.50
    5.50
    5.25
    5.21

    6.65
    6.65
    6.49
    6.64
    7.14
    7.24
    7.24
    7.24
    7.19
    7.44
    7.39
    7.54

    5.04
    5.15
    5.00
    5.05
    5.09
    5.79
    5.79
    5.79
    5.79
    5.79
    5.94
    5.99
    5.52

    -0.01
    0.10
    -0.05
    0.00
    0.04
    0.74
    0.49
    0.49
    0.39
    0.29
    0.44
    0.74
    0.31

    5.75
    5.75
    5.25
    4.75
    4.75
    4.75
    4.75
    4.75
    4.75
    4.00
    4.00
    3.50
    4.73

    -0.60
    -0.60
    -0.60
    -0.75
    -0.60
    -0.65
    -0.65
    -0.60
    -0.60
    0.50
    0.75
    0.60
    -0.32

    5.15
    5.15
    4.65
    4.00
    4.15
    4.10
    4.10
    4.15
    4.15
    4.50
    4.75
    4.10
    4.41

    7.39
    7.29
    7.19
    6.99
    6.65
    7.15
    7.15
    6.85
    6.85
    7.20
    7.20
    6.75

    5.98
    5.89
    5.74
    5.34
    5.25
    5.15
    5.45
    5.34
    5.24
    5.64
    5.59
    4.99
    5.47

    0.83
    0.74
    1.09
    1.34
    1.10
    1.05
    1.35
    1.19
    1.09
    1.14
    0.84
    0.89
    1.05

    3.00
    3.00
    2.50
    2.25
    2.25
    2.25
    2.25
    2.25

    0.60
    0.60
    0.80
    0.75
    0.60
    0.35
    0.30
    0.30

    3.60
    3.60
    3.30
    3.00
    2.85
    2.60
    2.55
    2.55

    5.79
    5.79
    5.55
    5.25
    5.25
    5.85
    5.85
    5.69

    4.79
    4.34
    4.15
    3.95
    3.79
    3.85
    3.85
    3.85

    1.19
    0.74
    0.85
    0.95
    0.94
    1.25
    1.30
    1.30

    September
    October
    November
    December
    ANNUALIZED

    2.25
    2.25
    2.25
    2.25
    2.40

    0.10
    -0.05
    -0.10
    -0.20
    0.34

    Prime business
    Average over six
    full years

    4.56

    -0.56

    2.35
    2.20
    2.15
    2.05
    2.73
    VRM after
    discount
    4.00

    5.59
    5.59
    5.59
    5.49

    3.85
    3.85
    4.05
    3.99
    4.03
    Broker 5 year
    fixed
    4.92

    1.50
    1.65
    1.90
    1.94
    1.29
    VRM Vs Fixed
    0.93

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