Open Mortgage Rates

Last Update: 07-25-2008 08:30:03

A mortgage is a contract stipulating a specific property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features. Closed mortgages involve a strict repayment schedule of a specific amount with optional limited lump sum payments and payment increases.

These rates are for indication purposes only and should be confirmed with each institution directly. The actual rate available to a borrower will vary depending upon a number of factors which may include general credit worthiness, security/collateral provided, borrowing/repayment history and the extent to which the borrower has other products/services with that particular vendor.

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