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CIBC

CIBC Mortgage Speical 5 years variable 1.28%

  • Last Updated:
  • Apr 25th, 2021 3:21 pm
[OP]
Member
Dec 8, 2002
236 posts
344 upvotes

[CIBC] CIBC Mortgage Speical 5 years variable 1.28%

CIBC Lunar New Year Mortgage Special Offer
February 8 - 19, 2021

1.28% 5-year Variable Flex
For new accquisitions and transfers-in only
300 replies
Jr. Member
Oct 31, 2008
106 posts
270 upvotes
Calgary
Is it posted on any website ?
Member
Apr 20, 2011
258 posts
193 upvotes
Edmonton, Canada
Hahaha what a joke. The lowest fixed rate avaialable is 1.25% for insured mortgages.
Deal Addict
Oct 29, 2007
2070 posts
633 upvotes
zerocool_maverick wrote: Hahaha what a joke. The lowest fixed rate avaialable is 1.25% for insured mortgages.
From where? Please provide more details.
Deal Addict
Nov 10, 2012
2659 posts
1926 upvotes
Calgary
I was told by my contact at CIBC that they can combine this with other existing offers/cash back.
Deal Addict
User avatar
Apr 12, 2013
2886 posts
1878 upvotes
Moon
torpc wrote: CIBC Lunar New Year Mortgage Special Offer
February 8 - 19, 2021

1.28% 5-year Variable Flex
For new accquisitions and transfers-in only
Insured rate or available for all?
Koodo, Public Mobile, Lucky Mobile Customer
Deal Addict
Jun 4, 2012
3842 posts
3277 upvotes
zerocool_maverick wrote: Hahaha what a joke. The lowest fixed rate avaialable is 1.25% for insured mortgages.
Have you looked at HSBC? It's actually 0.99
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Last edited by muffin4life on Feb 8th, 2021 5:45 pm, edited 1 time in total.
Member
Aug 9, 2006
454 posts
43 upvotes
jarfgames wrote: I was told by my contact at CIBC that they can combine this with other existing offers/cash back.
Do you have a contact for this?
Jr. Member
Jan 25, 2012
140 posts
37 upvotes
SCARBOROUGH
would also like to be pm with contacts. thanks
Sr. Member
Oct 20, 2014
614 posts
281 upvotes
Trenton, on
jarfgames wrote: I was told by my contact at CIBC that they can combine this with other existing offers/cash back.
Could you please PM the contact to me too? TIA
Newbie
Mar 31, 2015
4 posts
1 upvote
Kanata, ON
Does a refinance qualify for this offer?
How about the cash bonus?
Newbie
User avatar
Jun 4, 2007
56 posts
62 upvotes
Toronto
zerocool_maverick wrote: Hahaha what a joke. The lowest fixed rate avaialable is 1.25% for insured mortgages.
Confirmed with my sources that 1.28% Variable is applicable to conventional (non-insured) deals. The 1.25% rates mentioned are for insured deals, which is a different product. Kinda like comparing apples to oranges.

Don't forget the HPP program that CIBC offers which gives you auto approval for increased LOC as you pay down the mortgage, without a need for a new application/credit pull. I don't believe HSBC or other lenders have this (except BMO and RBC).

Lastly, the variable rate term only has 3 month penalty if you break the mortgage, whereas you would have to pay the full interest if you break the fixed term mortgage.

So to laugh at the current offer and compare it with 1.25% for a different product (insured) seems a bit odd to me. Thanks OP for the deal +1 upvote from me.

Note: Insured rates are usually lower since the lender has the insurer's approval, but the applicant would have to pay for the insurer's premium of ~3% on top of the mortgage rate.
Last edited by azn_sicko on Feb 9th, 2021 12:03 am, edited 1 time in total.

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