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[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

  • Last Updated:
  • Nov 4th, 2019 8:29 pm
Member
Oct 5, 2008
489 posts
444 upvotes
GTA
ahlaker wrote: Meridian is offering up 2.34% for a 5-year fixed. Branch rate is 2.49% but through brokers you can get 2.34%.

Fixed vs variable is a whole other can of worms: how do you feel about riding a (possible) rate roller coaster? Do you think rates will drop to offset the 0.5%+ premium you’re paying today? Do you think you’ll break your mortgage before 5 years are up? Answers to those questions will help determine whether you go one way or another.

Good luck!

Nikola Alaica, CPA, CA | Ahlaker Financial | Tax, Accounting, Mortgages
Curious - are you a broker? My broker has been quoting 2.49% from Meridian on a 5 year fixed.
Deal Addict
Sep 19, 2012
1026 posts
878 upvotes
Calgary
Fatty55 wrote: Curious - are you a broker? My broker has been quoting 2.49% from Meridian on a 5 year fixed.
Meridian raised rates last night. What used to be 2.24% and 2.34% (< 20% down payment and >= 20% downpayment respectively) is now 2.34% and 2.44% for 5 years fixed (purchases only).

These are “max buydown” rates so if your broker is not offering those rates it is because they are not sacrificing commission to lower the rate. There are brokers, like me, who buy down their rates “as much as possible”. As much as possible often means to the max allowed by the lender. In some cases lenders have no cap so “max buydown” there means different things to different brokers.

Good luck!
Nikola Alaica, CPA, CA | Tax, Accounting, Mortgages
Member
Jul 7, 2013
256 posts
374 upvotes
Fatty55 wrote: Curious - are you a broker? My broker has been quoting 2.49% from Meridian on a 5 year fixed.
I have no relationship to ahlaker but just wanted to pass on that I contacted him somewhat randomly from this and the mortgage thread - I needed help after constant delays with HSBC and he seemed to put a lot of effort into his replies. I lucked out because not only is he a broker, but he worked really hard to understand our situation and find a solution. Financing can be stressful, best of luck with yours!

cheers,
:)
Jr. Member
Oct 17, 2015
131 posts
172 upvotes
Toronto
Butler mortgage has batter rates. 2.57 fix for 5yrs.
Newbie
Oct 25, 2019
1 posts
HI I am going to buy a condo for the price of $679000- Looking for the best mortgage rate? Any Offer?
Member
Jan 3, 2007
455 posts
42 upvotes
Calgary
Hi, I gona renew my mortgage, who can give me the best rate? thanks
Newbie
May 26, 2008
31 posts
3 upvotes
Also maybe someone knowledgeable could chime in, what's the trend short term (1 to 3 months), are the rates still going up? Tx
Deal Addict
Apr 5, 2016
3879 posts
2519 upvotes
Calgary/Vancouver
jst_curious wrote: Also maybe someone knowledgeable could chime in, what's the trend short term (1 to 3 months), are the rates still going up? Tx
Probably continue to increase for a bit. Usually winter time has the highest rates. Come spring time where most banks have home financing compaigns and cash back.

Variable rate might go down depending on if BoC lowers bank rate in December.
Current Fido customer.
Ex Koodo customer.
Sr. Member
User avatar
Dec 2, 2008
684 posts
198 upvotes
jst_curious wrote: Also maybe someone knowledgeable could chime in, what's the trend short term (1 to 3 months), are the rates still going up? Tx
Status quo for now. BofC just kept rate steady which then caused a drop in bond yields

If you’re hoping for a significant drop in the next 3 months, it doesn’t seem likely
Newbie
Dec 7, 2018
4 posts
I need a broker to get a hold of me. Im in a 3.4 and I would like to renew early for the 2.4 range if possible.
Deal Addict
User avatar
Jul 6, 2010
2993 posts
761 upvotes
Toronto
DonovanW525 wrote: I need a broker to get a hold of me. Im in a 3.4 and I would like to renew early for the 2.4 range if possible.
Search official RFD mortgage thread in Google and request someone there.
Sr. Member
User avatar
Dec 2, 2008
684 posts
198 upvotes
DonovanW525 wrote: I need a broker to get a hold of me. Im in a 3.4 and I would like to renew early for the 2.4 range if possible.
I’ve messaged you Grinning Face

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