Expired Hot Deals

[HSBC] HSBC 5-year fixed mortgage 2.35%

  • Last Updated:
  • Jun 14th, 2017 3:33 pm
[OP]
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Jun 9, 2005
1590 posts
170 upvotes
Calgary

[HSBC] HSBC 5-year fixed mortgage 2.35%

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Price:
2.35
Retailer:
HSBC
More offers from HSBC
HSBC is offering a 5-year fixed closed mortgage at 2.35%. This is easily the best rate I've seen in a long time, especially in the last few months since rates started to rise.
I spoke with a rep and she mentioned there's a 20% pre-payment privilege, and allowed up 15% payment increases.
No mention of when this offer expires, but get it soon as no bank is offering this low right now!

Link: https://www.hsbc.ca/1/2/personal/borrow ... age-offers

Edit: Confirmed that this rate is applicable to both the conventional (standard) mortgage, as well as the Equity Power mortgage (collateral).
Source: 1) Applied for the mortgage and read my documents. 2) The fine print of the promotion states the rate applies to both. 3) Spoke to two different mortgage specialists and both confirmed this rate applies to both types of mortgage.
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Last edited by Nuprapture on Feb 16th, 2017 5:51 pm, edited 2 times in total.
600 replies
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Jul 12, 2003
7797 posts
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Markham
Inquired today, 2.35 for 5 yrs is right.
If need to discharge from other bank, need to pay the discharge fee from that bank, also, appraisal fees and lawyer fee to HSBC which is about $1000....
Retired Forum Moderator February 2009 - June 2015
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Jun 10, 2011
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very good!!!
god damn, still 2 years to go for my mortgage
[OP]
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Jun 9, 2005
1590 posts
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Calgary
grisensko wrote:
Feb 16th, 2017 6:33 pm
Insured mortgage only ? Or low ratio too?
From my conversation with the rep, both qualify.
[OP]
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Jun 9, 2005
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Calgary
def47 wrote:
Feb 16th, 2017 6:20 pm
very good!!!
god damn, still 2 years to go for my mortgage
With a rate this low, do a calculation between your early cancellation penalty compared to what the interest difference over the 5 years will be. Also, with rates on the upswing, you might be better off locking in a low rate for 5 years now rather than when you renew in 2 years.
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Feb 4, 2003
1989 posts
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Nuprapture wrote:
Feb 16th, 2017 6:42 pm
With a rate this low, do a calculation between your early cancellation penalty compared to what the interest difference over the 5 years will be. Also, with rates on the upswing, you might be better off locking in a low rate for 5 years now rather than when you renew in 2 years.
Hmm also in the same boat.
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May 5, 2008
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No advance customer required
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Feb 9, 2009
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I went with Cibc last month 2 year fixed @ 2.05%%
‎3 Apples that changed the world: the one that Eve ate, the one that fell on Newton's head and the one that Steve Jobs built.
R.I.P Steve jobs...!!
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Jan 23, 2006
1622 posts
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The picture shows personal rate of 2.35 as well? Why OP stated advanced clients only?
iamalittlepepper wrote:
Aug 13th, 2012 2:55 am
Non of the Royal Purple is BMW qualified which voids your drivetrain warranty.. especially for those who owns the 3.0L N54 engine
tcjsqls wrote:
Jan 13th, 2015 12:56 pm
you have no ideas how a report of stolen credit card (...) affect your credit. Happened twice in your history, that bank won't issue a credit card for you
Newbie
Sep 19, 2016
49 posts
7 upvotes
damn thats a good deal, i just got 2.99 5-year with scotia, although it is for a rental (which is usually .25% higher)
Member
Aug 5, 2015
250 posts
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Montreal, QC
Go through a broker and you'll get a better deal with a virtual bank like MCAP. Check ratespy.com for example.
Happy Koodo customer :-)
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Mar 13, 2008
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Milton
densil_lopez wrote:
Feb 16th, 2017 6:52 pm
I went with Cibc last month 2 year fixed @ 2.05%%
That's shit compared to this. This is 5 years.
-ZdpZ... ;)
Newbie
Apr 17, 2015
76 posts
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Montreal, QC
willy0275 wrote:
Feb 16th, 2017 7:23 pm
Go through a broker and you'll get a better deal with a virtual bank like MCAP. Check ratespy.com for example.
That will really depend on your province... In Quebec right now even ratespy says there is no better deal for 5years fixed. I see 2.39% in BC and 2.28% in ON but that's it.

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