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[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

  • Last Updated:
  • Nov 4th, 2019 8:29 pm
Deal Addict
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Jul 6, 2010
2990 posts
754 upvotes
Toronto
True North Mortgage offered me 2.74 on a 5 year fixed for my renewal. I've heard better things about them than HSBC, so far RBC is not budging on 2.99 4 year fixed as they don't match anyone but class A banks they say.
Newbie
Feb 12, 2019
5 posts
2 upvotes
If I can be of any service to anyone please send me a DM and I can look into offering you our rates at CIBC.
Deal Addict
Dec 25, 2006
2977 posts
452 upvotes
Just talked with my TD rep

2.94 @ 3 yr term - wouldn't budge on it and says no big 5 banks will offer the 2.74
2.99 @ 5yr
Last edited by ExcelPremium on Jun 5th, 2019 6:36 pm, edited 1 time in total.
Deal Addict
User avatar
Jul 6, 2010
2990 posts
754 upvotes
Toronto
ExcelPremium wrote: Just talked with my TD rep

2.94 @ 3 yr term - wouldn't budget on it and says no big 5 banks will offer the 2.74
2.99 @ 5yr
Scotia is offering 2.79 in the other thread, looks like he's partially wrong :P
Deal Addict
Apr 18, 2005
1824 posts
535 upvotes
Mississauga
ExcelPremium wrote: Just talked with my TD rep

2.94 @ 3 yr term - wouldn't budget on it and says no big 5 banks will offer the 2.74
2.99 @ 5yr
TD did a rate exception for me .. 5yr 2.85%... 500K mortgage. Not high ratio.
2.74 at hsbc is high ratio. Or monoline lenders will do it.
Deal Addict
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Mar 19, 2005
1274 posts
67 upvotes
Montreal
Finally got the inspection of done last week and I was able to sign for the mortgage today.

Funny thing, the inspection (evaluation) wasn't even done in my condo but from someone else's condo but anyway it's a new construction so the guy said that it doesn't matter.

I wanted biweekly payment but the document was made as monthly payment. The guy said it would be fixed at now extra fee on the 2nd month.
Newbie
Nov 21, 2015
30 posts
12 upvotes
Hannon, ON
TLSRULZ wrote: TD did a rate exception for me .. 5yr 2.85%... 500K mortgage. Not high ratio.
2.74 at hsbc is high ratio. Or monoline lenders will do it.

What is the location of the bank or mortgage specialist please ?
Deal Guru
User avatar
Aug 6, 2001
13720 posts
1911 upvotes
Mississauga
KingMoobot wrote: My mortgage term ended yesterday. good timing for lower rates!

But RBC won't match it for me. They won't even match HSBC's posted rate of 2.94 for a normal, non-high ratio mortgage.

got just over 200k remaining. Any recommendations? is it worth it to try to get a 2.74% high ratio mortgage instead of a normal one at around 2.94? we have 16 years left on a 25yr amortization but been doing double payments for the most part of it.
Street Capital is my current vendor and they typically are very attractive compared to banks etc.
Member
Aug 31, 2001
324 posts
9 upvotes
Toronto
Anybody know if the Big 5 are the only one that you could get a SM readvanceable heloc and directly through the banks as oppose to through brokers?
Member
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Nov 6, 2011
438 posts
136 upvotes
Calgary
Reading this thread gives me some peace of mind about having a low rate. We did a 5yr fixed closer for 2.35 in Jul 2017 with TD (not high-ratio).
Newbie
Feb 3, 2017
12 posts
18 upvotes
For all those who are interested in this deal - HSBC just opened up a branch in Brampton (Brammpton Lionhead Banking Centre) - which is offering employee pricing on mortgages. So the 5 yr for 2.89 (uninsured) is being offered at 2.79 at this location only. I confirmed with the branch offer is open to everyone. Also, as OP mentioned, there is also the $2k cash back for new applicants.

They also have a few other perks being a new location (i.e., 3.5% 1 yr GIC), but not sure if this is any better compared to other locations.
Member
Aug 31, 2001
324 posts
9 upvotes
Toronto
How's HSBC Heloc option - does it readvanceable with no minimum and can capitalize interest?

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