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A-18.1, r. 9 - Regulation respecting the Forest Management Funding Program
Section 14
Disposition versions
14. The hypothecary interest rate on a loan is reduced as set out in the table below:
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Term of loan Reduction
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12 months 0.30%
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24 months 0.35%
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36 months 0.40%
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48 months 0.45%
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60 months 0.50%
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84 months 0.60%
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Term of loan Reduction
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12 months 0.30%
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24 months 0.35%
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36 months 0.40%
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48 months 0.45%
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60 months 0.50%
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84 months 0.60%
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Despite the first paragraph, where in a calendar month the difference between the average rate of residential hypothecs for a term of 5 years and the average yield of Canadian 5-year bonds, according to the generic rate published by Bloomberg LP, is less than 1.75%, the reduction in the hypothecary interest rate provided for in the first paragraph is suspended for the following 3 months for all loans whose interest rate is determined during that period. The reductions are reinstated in the month following a period of 3 consecutive months during which that difference is equal to or greater than 1.75%. When the interest rate on a loan is determined, it remains applicable for the term chosen by the borrower.
