Expired Hot Deals

[HSBC] HSBC 2.74% 5 Yr Fixed Mortgage + $2,000 Cashback (High Ratio Mortgage Only!)

  • Last Updated:
  • Apr 5th, 2019 8:34 pm
[OP]
Deal Expert
User avatar
Feb 11, 2009
16647 posts
2974 upvotes
Toronto
AnkurC051509 wrote: I got approved at this rate, I think it's the best deal one can get in todays market.
Through high ratio or regular?
Real Estate Agent, CPA, CA
Deal Fanatic
May 1, 2012
8999 posts
7143 upvotes
Markham
Vineet406 wrote: Is this a collateral mortgage or conventional?
HSBC exclusively does Collateral Charge
Sr. Member
User avatar
Jul 21, 2013
629 posts
273 upvotes
Calgary
I'm already getting a bit tired, I got quoted:
5 Years Fixed Closed – 3.24%
5 Years Variable (Closed for the first 3 years and open for the last 2 years) – Prime (3.95%) – 0.76% = 3.19%

Note: For new purchase, we can offer 0.1% addition discount on the top of 5 years interest rate you are interested in.

5 Years Fixed Closed – 3.14%
5 Years Variable (Closed for the first 3 years and open for the last 2 years) – Prime (3.95%) – 0.86% = 3.09%

And even on showing the website they wouldn't match it, what a rip-off..
Member
Aug 16, 2013
477 posts
103 upvotes
Toronto
I am currently with B-lender with a rate of 3.25 (Prime -0.70) and 1.5 years into the 5 years closed variable mortgage. The remaining mortgage is 520K. The mortgage is insured as I made 10% down at the time of closing. Should I move with HSBC on fixed or go with another lender for a better rate? I believe penalty will be 3 months interest but how much are other mortgage move-over costs? or is it always better to wait until the renewal time comes up?

Qualification with respect to income shouldn't be an issue
Member
User avatar
Apr 1, 2007
397 posts
186 upvotes
Toronto
roofgoof wrote: I am currently with B-lender with a rate of 3.25 (Prime -0.70) and 1.5 years into the 5 years closed variable mortgage. The remaining mortgage is 520K. The mortgage is insured as I made 10% down at the time of closing. Should I move with HSBC on fixed or go with another lender for a better rate? I believe penalty will be 3 months interest but how much are other mortgage move-over costs? or is it always better to wait until the renewal time comes up?

Qualification with respect to income shouldn't be an issue
No one can predict the future for sure, but it seams that the rates are dropping. I wouldn’t rush into refinancing in this environment, specially when cancellation penalties and fees are involved.
[OP]
Deal Expert
User avatar
Feb 11, 2009
16647 posts
2974 upvotes
Toronto
Roger21 wrote: I'm already getting a bit tired, I got quoted:
5 Years Fixed Closed – 3.24%
5 Years Variable (Closed for the first 3 years and open for the last 2 years) – Prime (3.95%) – 0.76% = 3.19%

Note: For new purchase, we can offer 0.1% addition discount on the top of 5 years interest rate you are interested in.

5 Years Fixed Closed – 3.14%
5 Years Variable (Closed for the first 3 years and open for the last 2 years) – Prime (3.95%) – 0.86% = 3.09%

And even on showing the website they wouldn't match it, what a rip-off..
Is that with high ratio?
Real Estate Agent, CPA, CA
Member
May 12, 2006
254 posts
133 upvotes
ON
TokyoG wrote: WTF, why do people who owe a lot of money get better deals?!?! ... oh i see. Bigger host for these parasites. They can slowly suck your money for 25 years. I digress, this deal is HOT!! ...for those who qualify. Thanks OP
Calm down kid. It's because high ratio loans are insured by the gov't via CMHC.
Jr. Member
User avatar
Oct 13, 2017
159 posts
236 upvotes
Halifax
Special offer rate of 2.74% APR** View footnote * on a 5-year fixed closed term high ratio mortgage

*The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming a property valuation fee of $300. APR means the cost of borrowing for a loan expressed as an interest rate. It includes all interest and some non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same. This rate is only available for Residential (Conventional) and Equity Power Mortgages of owner-occupied properties with an amortization of 25 years or less. Rates are subject to change without notice. Some restrictions may apply.
** The variable rate is equal to HSBC Prime Rate - 0.91%. The rate will change as HSBC's Prime Rate changes. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Mortgage Rates above are applicable to First Mortgages only. Some restrictions apply.
1 High Ratio Mortgage is when customer obtains a personal mortgage with mortgage default insurance with HSBC Canada. For full terms and conditions click hereclick here This link will open in a new window.
Deal Addict
Oct 4, 2008
1103 posts
193 upvotes
SavvyShopperCa wrote: Special offer rate of 2.74% APR** View footnote * on a 5-year fixed closed term high ratio mortgage
Sorry, where did you find that ?
It's crazy their 5 year closed mortgage is under 2.9 and my variable open is at 2.99 (prime - 1).
[OP]
Deal Expert
User avatar
Feb 11, 2009
16647 posts
2974 upvotes
Toronto
Update: Rate dropped to 2.74% Saw another ad on my FB lol



edit:
Whoops! Guess you beat me to it!
SavvyShopperCa wrote: Special offer rate of 2.74% APR** View footnote * on a 5-year fixed closed term high ratio mortgage

*The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming a property valuation fee of $300. APR means the cost of borrowing for a loan expressed as an interest rate. It includes all interest and some non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same. This rate is only available for Residential (Conventional) and Equity Power Mortgages of owner-occupied properties with an amortization of 25 years or less. Rates are subject to change without notice. Some restrictions may apply.
** The variable rate is equal to HSBC Prime Rate - 0.91%. The rate will change as HSBC's Prime Rate changes. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Mortgage Rates above are applicable to First Mortgages only. Some restrictions apply.
1 High Ratio Mortgage is when customer obtains a personal mortgage with mortgage default insurance with HSBC Canada. For full terms and conditions click hereclick here This link will open in a new window.
Real Estate Agent, CPA, CA
Jr. Member
User avatar
Oct 13, 2017
159 posts
236 upvotes
Halifax
FYI, if you have First National Mortgage and is insured with Genworth then you would not qualify for this rate. It has to be CMHC insured
Jr. Member
Sep 20, 2015
126 posts
32 upvotes
Brantford, ON
This thread had me thinking about my mortgage renewal date. It seems interest rates have went up quite a bit since my last renewal 2016. I some how mange to get 2.23% fixed for 5 years from Scotia bank.
Jr. Member
Dec 21, 2015
158 posts
54 upvotes
Vancouver, BC
Just keep in mind that hsbc ONLY does collateral mortgage!

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