Expired Hot Deals

[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

  • Last Updated:
  • Nov 4th, 2019 8:29 pm
[OP]
Banned
Dec 7, 2013
279 posts
283 upvotes

[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

Deal Link:
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!
808 replies
Newbie
Nov 2, 2011
49 posts
30 upvotes
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.
Deal Fanatic
May 1, 2012
9678 posts
9138 upvotes
Markham
aznztar1 wrote: 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.
Member
Jul 8, 2014
336 posts
181 upvotes
AB
Do you think other banks will price match?
Jr. Member
Jun 2, 2018
109 posts
64 upvotes
Oh my... I'm with HSBC now and that's undercutting the rate I got last year :(
Deal Addict
Feb 7, 2006
2767 posts
1284 upvotes
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.
Banned
Aug 3, 2005
1235 posts
1166 upvotes
zwz002 wrote: Oh my... I'm with HSBC now and that's undercutting the rate I got last year :(
ummmm you know rates constantly change right?
Jr. Member
User avatar
Oct 13, 2017
193 posts
331 upvotes
Halifax
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 :(
Jr. Member
Jun 2, 2018
109 posts
64 upvotes
ekcivichb wrote: 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
Jr. Member
Dec 16, 2017
111 posts
120 upvotes
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.
Member
Feb 24, 2019
245 posts
344 upvotes
zarkook wrote: 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
Deal Addict
Sep 13, 2012
1157 posts
635 upvotes
Vaughan, ON
SavvyShopperCa wrote: 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.
Jr. Member
Mar 31, 2009
168 posts
214 upvotes
These current reduced fixed mortgage rates are already pricing in at least one potential interest rate cut in the coming months.
This is why there is now a minimal spread between fixed and variable rates.
It is actually a pretty good timing to go for a reduced fixed rate as opposed to variable which made much more sense only few months ago.
Deal Addict
Mar 14, 2006
1513 posts
1166 upvotes
Toronto
zarkook wrote: 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.
You can definitely switch lender in the middle of your term. You will have to outweigh the cost versus benefit. You will have to pay 3 months interest penalty plus whatever cost to discharge your current mortgage and possibly set up fees for the new mortgage. I don’t think you will save anything after everything said and done for that 0.2% difference.
Deal Addict
Jul 11, 2008
1885 posts
1439 upvotes
Already been asked but i didnt see clarification on it. Collaretal mortgages only through HSBC?
Deal Addict
Aug 5, 2015
2421 posts
1830 upvotes
Montreal, QC
Man, I'm variable @ 3.35% for the next three years. This hurts, but at least rates stopped rising for now. Bad bet on the idea rates would not rise so much when I got the mortgage @ 2.10%. (just realized the 2.74% is for high ratio only, which I don't have, but 2.94 would still be better!)
Happy Koodo Public Mobile customer :-)
Deal Addict
Jun 16, 2009
2493 posts
917 upvotes
Woodbridge
Most banks will allow you to change your variable mortgage into fixed for a lower rates WITHOUT penalty.
I was in the same boat as you ( paying 3.5 % for variable ) and now bank has offered 3.04 % provided I change my terms to fixed instaed of variable.
willy0275 wrote: Man, I'm variable @ 3.35% for the next three years. This hurts, but at least rates stopped rising for now. Bad bet on the idea rates would not rise so much when I got the mortgage @ 2.10%. (just realized the 2.74% is for high ratio only, which I don't have, but 2.94 would still be better!)
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