(December 1 – 14:25 ET) – CIBC has announced the following decreases in mortgage rates:

> Six month convertible 8.15 per cent, no change
> Six month open 8.60 per cent, no change
> One year open 8.60 per cent, down .10 per cent
> One year closed 7.80 per cent, down .10 per cent
> Two year closed 7.90 per cent, down .10 per cent
> Three year closed 7.95 per cent, down .15 per cent
> Four year closed 8.05 per cent, down .15 per cent
> Five year closed 8.10 per cent, down .15 per cent
> Seven year closed 8.35 per cent, down .15 per cent
> Ten year closed 8.60 per cent, down .10 per cent

These rates are effective Dec. 2, 2000.
-IE Staff