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[HSBC] 2.99% 5 year fixed mortgage - for switchers only

  • Last Updated:
  • Apr 21st, 2019 9:24 pm
[OP]
Deal Addict
Jul 28, 2009
1344 posts
295 upvotes

[HSBC] 2.99% 5 year fixed mortgage - for switchers only

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Retailer:
HSBC
More offers from HSBC
Just posted, one of the lowest rates I've seen so far!

2.99%
(3.02% APR)** View footnote *

5 year fixed closed term mortgage switch rate2 or purchase3 rate
105 replies
Jr. Member
User avatar
Oct 13, 2017
128 posts
188 upvotes
Halifax
Sorry if this sounds dump, but if I currently have a mortgage with another bank and I renew it with HSBC does that mean I am a switcher ?
Member
Apr 1, 2013
439 posts
307 upvotes
Fredericton
Purchase rate is confusing. It seems like any new mortgage counts as a purchase. What's the catch?
Member
Mar 7, 2011
283 posts
165 upvotes
Ottawa
SavvyShopperCa wrote:
Apr 3rd, 2019 4:35 pm
Sorry if this sounds dump, but if I currently have a mortgage with another bank and I renew it with HSBC does that mean I am a switcher ?
See footnote:
2 When you transfer a personal mortgage loan ("Mortgage") to HSBC Bank Canada ("HSBC"). For full terms and conditions click here
Jr. Member
Jan 6, 2012
157 posts
111 upvotes
About time, now let’s see the other big banks drop even further.
Deal Addict
Jan 11, 2007
1189 posts
143 upvotes
Edmonton
Thanks for posting OP.

Dang! mine is not up for renewal until August. I am not following mortgage rate but kind of nervous all of these deals will be back up in summer.
Deal Addict
User avatar
Dec 16, 2008
2165 posts
547 upvotes
Calgary
SavvyShopperCa wrote:
Apr 3rd, 2019 4:35 pm
Sorry if this sounds dump, but if I currently have a mortgage with another bank and I renew it with HSBC does that mean I am a switcher ?
Yes
life359 wrote:
Apr 3rd, 2019 4:36 pm
Purchase rate is confusing. It seems like any new mortgage counts as a purchase. What's the catch?
They want mortgage business.
Member
Mar 7, 2011
217 posts
163 upvotes
Ottawa
uglyguy wrote:
Apr 3rd, 2019 4:44 pm
Thanks for posting OP.

Dang! mine is not up for renewal until August. I am not following mortgage rate but kind of nervous all of these deals will be back up in summer.
They do 120 day rate holds.
Jr. Member
User avatar
Oct 13, 2017
128 posts
188 upvotes
Halifax
uglyguy wrote:
Apr 3rd, 2019 4:44 pm
Thanks for posting OP.

Dang! mine is not up for renewal until August. I am not following mortgage rate but kind of nervous all of these deals will be back up in summer.
I know how you feel, my mortgage is not up for renewal until Jan 2020, and I am freaking out that by the time I can do a rate hold, the rate would start climbing up....
Penalty Box
Aug 17, 2012
1421 posts
536 upvotes
Windsor
Mcap is 2.94% for insured Mortgages purchasse or renewal
Member
User avatar
Nov 17, 2008
320 posts
91 upvotes
Brampton
They are also offering:

Special offer rate of 2.74% APR on a 5-year fixed closed term high ratio mortgage.
https://www.hsbc.ca/mortgages/
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Member
Jun 10, 2016
237 posts
185 upvotes
Mississauga
this is a good rate but I went ahead with the TD 5 yr fixed at 3.13 with $1300 in incentives.
Member
Dec 31, 2010
297 posts
308 upvotes
Montreal
EmmEmm wrote:
Apr 3rd, 2019 7:05 pm
this is a good rate but I went ahead with the TD 5 yr fixed at 3.13 with $1300 in incentives.
I guess incentives are for new mortgages only?
Jr. Member
Aug 6, 2008
110 posts
64 upvotes
The 2 years fixed at 1.95% offered by Meridian was the best. Doesn't look like they have that now.
Member
Jun 10, 2016
237 posts
185 upvotes
Mississauga
spdecoste wrote:
Apr 3rd, 2019 7:21 pm
I guess incentives are for new mortgages only?
not very sure, you may want to check with them.

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