Real Estate

The Official Mortgage Rates Thread

  • Last Updated:
  • Jan 23rd, 2018 12:19 am
Newbie
Aug 3, 2017
4 posts
Vancouver, BC
I need to be able to waive my financing subject by the end of this week. Is there an approach that will allow me to do that by getting a firm confirmation from a lender, but still leave the door open to shop around before the actual completion? Or must I actually commit to a lender this week if I need that confirmation?
Deal Addict
Feb 2, 2014
4375 posts
875 upvotes
Toronto
fasbo2017 wrote:
Aug 7th, 2017 2:03 pm
I need to be able to waive my financing subject by the end of this week. Is there an approach that will allow me to do that by getting a firm confirmation from a lender, but still leave the door open to shop around before the actual completion? Or must I actually commit to a lender this week if I need that confirmation?
In BC, you can waive conditions at any time. If you have an approval from one lender already, I see no reason why you can't waive conditions based on that (unless that approval is not tolerable at all).
Kevin Somnauth, CFA
Mortgage Agent and Real Estate Sales Representative
Member
Oct 17, 2003
270 posts
11 upvotes
Etobicoke
What is the best 1 or 2 year fixed rates with big Bank in Ontario?
Deal Addict
Apr 26, 2004
1899 posts
51 upvotes
GTA
DentDude wrote:
Aug 5th, 2017 3:10 pm
I wonder though, as for all the cheaper rates I have seen advertised, is this most likely only for high ratio mortgages plus for properties under $1 million. My situation is a renewal for a property over $1 million and a low-ratio mortgage.
You can get a rate very close to that and have your fees paid for. When is your renewal date?
Mortgage Specialist in the GTA here to answer all your questions.
Deal Addict
Apr 26, 2004
1899 posts
51 upvotes
GTA
GenX wrote:
Aug 8th, 2017 10:12 am
What is the best 1 or 2 year fixed rates with big Bank in Ontario?
We need to know some more information.

When is your renewal date?
Who is your current lender?
How much mortgage is currently remaining?
What is the value of the house?
Are you looking to refinance?

You will be able to get a better answer once we get some more information Slightly Smiling Face
Mortgage Specialist in the GTA here to answer all your questions.
Deal Addict
Feb 2, 2014
4375 posts
875 upvotes
Toronto
GenX wrote:
Aug 8th, 2017 10:12 am
What is the best 1 or 2 year fixed rates with big Bank in Ontario?
Any reason you're limiting yourself to a Big Bank?
Kevin Somnauth, CFA
Mortgage Agent and Real Estate Sales Representative
Member
Oct 17, 2003
270 posts
11 upvotes
Etobicoke
CdnRealEstateGuy wrote:
Aug 8th, 2017 12:50 pm
Any reason you're limiting yourself to a Big Bank?
I have a renewal in less then 30 days and wanted to know what starting point to use. I provide of there institution but they told me they do not compete with them.
Newbie
Sep 4, 2008
3 posts
Mississauga
PaulMeredith wrote:
Aug 6th, 2017 3:24 pm
The lender offering the 5 year fixed at 2.64% does not like us posting this rate with their name publicly as it is a special rate and not their general offering. It's a large credit union lending primarily in the GTA and Ottawa areas.
Does it mean its a bought down rate?
Deal Addict
Feb 2, 2014
4375 posts
875 upvotes
Toronto
Vic D wrote:
Aug 8th, 2017 1:01 pm
Does it mean its a bought down rate?
Correct.
Kevin Somnauth, CFA
Mortgage Agent and Real Estate Sales Representative
Deal Addict
User avatar
Sep 13, 2011
3429 posts
1107 upvotes
Toronto
Vic D wrote:
Aug 8th, 2017 1:01 pm
Does it mean its a bought down rate?
Yes, this is correct. All the rates we post on this board are bought down rates and the lowest that we can offer.
Paul Meredith
Mortgage Broker
CityCan Financial Corp (lic. 10532)
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3863 upvotes
BC
GenX wrote:
Aug 8th, 2017 12:57 pm
I have a renewal in less then 30 days and wanted to know what starting point to use. I provide of there institution but they told me they do not compete with them.
You need to inform them that they DO compete with them because that's where you will renew and lose your business to.
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Newbie
Aug 7, 2017
1 posts
Hi all,

I have made an offer on a house in Ottawa, Ontario. The buying price is $450,000 and I am putting down $100,000. I have not been pre-approved for a mortgage and need to have one by the time my offer expires (Saturday August 12th at 7:59pm). I have no debts, a full-time job with the government (5+ years) and an A+ credit score. What is the best mortgage rate I can get (5 year fixed or variable). I have all my documentation ready, just need a good mortgage vehicle to apply to.

Thanks in advance
Deal Addict
User avatar
Dec 1, 2015
1365 posts
742 upvotes
Etobicoke, ON
It is fairly easy to get an approval, as the process can be done entirely online. Talk to a mortgage professional today.
cianwalsh wrote:
Aug 8th, 2017 8:33 pm
Hi all,

I have made an offer on a house in Ottawa, Ontario. The buying price is $450,000 and I am putting down $100,000. I have not been pre-approved for a mortgage and need to have one by the time my offer expires (Saturday August 12th at 7:59pm). I have no debts, a full-time job with the government (5+ years) and an A+ credit score. What is the best mortgage rate I can get (5 year fixed or variable). I have all my documentation ready, just need a good mortgage vehicle to apply to.

Thanks in advance
Andre Oliveira - Mortgage Agent
FSCO # 10428 - Mortgage Intelligence
Member
Mar 4, 2007
362 posts
24 upvotes
Calgary
Hello all,

I have a Mortgage renewal coming up soon. I was locked in with RBC for a 5 Year fixed. Doing research to see what my options are and what is the best rate I can get.

Mortgage: $280k
House Value: $410k in Calgary
Interest Rate: 2.89% Fixed ending December 5, 2017

I'm open to institutions other than the Big 5 and variable options.

Thanks

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