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[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

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  • May 23rd, 2019 4:22 pm
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May 2nd, 2019 11:36 am
shumami [OP]
Member
Dec 7, 2013
236 posts
224 upvotes

May 2nd, 2019 11:36 am

[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

Deal Link:
https://www.hsbc.ca/mortgages/#apply
Retailer:
HSBC
More offers from HSBC
HSBC just slashed their mortgages even further.

Fixed can be had as low as 2.74% on a 5 year fixed (Insured and <1mil purchase price)
I believe their Variable is the same as the fixed.

As for uninsurable mortgages (>1mil purchase price), their rates are by far the best at 2.89% fixed or variable 5 years.

Happy saving money everyone!
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320 replies
May 2nd, 2019 11:46 am
aznztar1
Newbie
Nov 2, 2011
11 posts
4 upvotes

May 2nd, 2019 11:46 am

Hi There,

Is there any form of documentation available online? Best I could see is 2.74 for high ratio and 2.94 for non-high ratio for 5 years fixed.
May 2nd, 2019 11:58 am
Anikiri
Deal Fanatic
May 1, 2012
8227 posts
5504 upvotes
Markham

May 2nd, 2019 11:58 am

aznztar1 wrote: ↑
May 2nd, 2019 11:46 am
 Hi There,

Is there any form of documentation available online? Best I could see is 2.74 for high ratio and 2.94 for non-high ratio for 5 years fixed.
My friend just got this deal, apparently they slashed rates today. You have to go into an HSBC branch to get your rate, it should be lower than any other rate you can get anywhere else.
May 2nd, 2019 12:17 pm
damatick
Member
Jul 8, 2014
260 posts
120 upvotes
AB

May 2nd, 2019 12:17 pm

Do you think other banks will price match?
+1
May 2nd, 2019 12:39 pm
zwz002
Newbie
Jun 2, 2018
30 posts
6 upvotes

May 2nd, 2019 12:39 pm

Oh my... I'm with HSBC now and that's undercutting the rate I got last year :(
May 2nd, 2019 12:47 pm
MMMM
Deal Addict
Feb 7, 2006
2605 posts
1105 upvotes

May 2nd, 2019 12:47 pm

More details from the above link:
When you purchase a new property and are taking a new personal mortgage loan (“Mortgage”) with HSBC Bank Canada (“HSBC”) or move your existing Mortgage from another financial institution to HSBC, in the amount of CA$200,000 or more with a five year fixed or variable closed term and make mortgage payments from your HSBC chequing or savings account, you may receive a cash bonus of $1,000 for mortgages between $200,000 up to $499,999.99, and $2,000 for mortgages greater than or equal to $500,000 (the “Cash Back”) (the “HSBC Mortgage Cash Back Offer”). An appraisal fee of $300 per valuation may apply. The HSBC Mortgage Cash Back Offer runs from March 4, 2019 to September 30, 2019 inclusive (the “Offer Period”). For full terms and conditions click here
click here This link will open in a new window
Nice to see rates dropping.
And yes to banks price matching. I am currently at 2.69 and our mortgage is up for renewal in 11 months (roughly)
BMO today offered 3.14, then dropped that to 3.04 when I pushed.
Will wait as I think rates will drop some more.
+3
May 2nd, 2019 12:51 pm
ekcivichb
Sr. Member
Aug 3, 2005
965 posts
848 upvotes

May 2nd, 2019 12:51 pm

zwz002 wrote: ↑
May 2nd, 2019 12:39 pm
 Oh my... I'm with HSBC now and that's undercutting the rate I got last year :(
ummmm you know rates constantly change right?
+14
May 2nd, 2019 12:59 pm
SavvyShopperCa
Jr. Member
User avatar
Oct 13, 2017
129 posts
188 upvotes
Halifax

May 2nd, 2019 12:59 pm

I so envy people that are in the market for mortgage right now ! My mortgage is not up until Jan 2020 and I have to wait until the second of sep before I can start shop for mortgages. I am worried that by the time sep comes the rates will go up :(
May 2nd, 2019 1:01 pm
zwz002
Newbie
Jun 2, 2018
30 posts
6 upvotes

May 2nd, 2019 1:01 pm

ekcivichb wrote: ↑
May 2nd, 2019 12:51 pm
 ummmm you know rates constantly change right?
Of course... Just saying, can't even switch banks to take advantage of their low rate because I'm already with them
+1
May 2nd, 2019 1:02 pm
redflagdealsguy
Deal Fanatic
Feb 24, 2018
6648 posts
6943 upvotes

May 2nd, 2019 1:02 pm

Mortgage rates are delicious right now.

Doubtless, the market is pricing in a Conservative government in the next election cycle, and we're all benefiting from that.
+3
May 2nd, 2019 1:03 pm
zarkook
Newbie
Dec 16, 2017
24 posts
27 upvotes

May 2nd, 2019 1:03 pm

Does anyone know if it is possible to change lenders while in the middle of my own 5 year term? I currently have 2.94% and wouldn't mind getting that additional 0.2% off my back.
May 2nd, 2019 1:05 pm
KingMoobot
Newbie
Feb 24, 2019
65 posts
50 upvotes

May 2nd, 2019 1:05 pm

zarkook wrote: ↑
May 2nd, 2019 1:03 pm
 Does anyone know if it is possible to change lenders while in the middle of my own 5 year term? I currently have 2.94% and wouldn't mind getting that additional 0.2% off my back.
yes you can. you'll have to look into the penalty, and it likely isn't worth it
+8
May 2nd, 2019 1:07 pm
100Pacer
Sr. Member
Sep 13, 2012
589 posts
266 upvotes
Vaughan, ON

May 2nd, 2019 1:07 pm

SavvyShopperCa wrote: ↑
May 2nd, 2019 12:59 pm
 I so envy people that are in the market for mortgage right now ! My mortgage is not up until Jan 2020 and I have to wait until the second of sep before I can start shop for mortgages. I am worried that by the time sep comes the rates will go up :(
Personally I think you're in a good position and judging from BoC's tone I think the odds are very much in your favor there won't be an increase between now and September.
+3

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