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HSBC

HSBC Fixed rates: 1.84% 2-yr & 5-yr, 1.64% 5-yr Insured (with cashback ends Oct 30!)

  • Last Updated:
  • Mar 10th, 2022 7:38 pm
Member
Dec 23, 2006
355 posts
69 upvotes
gman1975 wrote: Cibc has dropped rates again.

High ratio 1 82% for 5 year fixed

Quick Close 1.78% variable or 1.97% 5 year fixed, must close within 60 days of application.

Plus up to $3300 cashback on top of those rates. All rates above are for primary residence and 25 year amortization.

5 year fixed, 60 day conventional quick close down to 1.92% us casback. I think we are close to bottom now
Are these rates only available through CIBC directly or can brokers get these rates? Are there conditions for these rates?
Sr. Member
Oct 12, 2005
906 posts
820 upvotes
Vancouver
javis wrote: Are these rates only available through CIBC directly or can brokers get these rates? Are there conditions for these rates?
CIBC (as well as HSBC, BMO & RBC, among others) do not deal with mortgage brokers. You have to use their in house agents.

Scotia & TD are the only big retail banks that independent mortgage brokers have access to, as far as I know.
ThatGuy1121 wrote: Hi all,

I'm new to mortgages and purchasing a home, I apologize if this has been answered already, I've done as much research as I can so far.

Is it best that I visit a HSBC branch and try to get the 1.89% fixed 5 year rate, or should I try to be getting that rate through a mortgage broker? I figure the bank may be willing to give me that rate with little negotiation because I'm not using a broker.

Would it be in my favor if I tell them I'm willing to open a Premier account with them, or does that not matter? I believe I qualify for one.

Final question, it seems that since my mortgage will be insured, I should be able to get a better rate than 1.89%, though I'll probably need to go through a broker. Does that sound about right?

If it helps, I'm looking to purchase a home in British Columbia in the 800-900k range. I will be putting down 10%.

Thanks!
HSBC is a bit different in that their mortgage agents are non-commission and they don’t really negotiate. If you are putting 10% down on a house of that value, and you meet the standard lending criteria, you should qualify for 1.89%, cash back of $3000, and Premier Banking. As mentioned in the post above, they don’t deal with brokers.

Shop around as brokers, as well as the big 5 banks, are extremely competitive right now and you might find an even better deal.

RFD has a number of brokers that are excellent. Try posting your details here and they’ll quote you with no obligation. official-mortgage-rates-thread-351105/
Newbie
Jan 29, 2012
81 posts
31 upvotes
Ottawa
vader_slri wrote: TD quoted me $260 discharge fee plus $77 e-registration fee at maturity. If you have a HELOC, the same fees would apply. Your situation might be different - best to ask TD.
Hello, I have a mortgage and HELOC at TD and switching to Tangerine. I thought both are registered as one charge but not sure.
Should I expect to pay the discharge and registration fees twice, one for the mortgage, and one for the HELOC?!
Newbie
Jun 25, 2009
29 posts
14 upvotes
gman1975 wrote: Cibc is 1.82% insured or 1.92% conventional with up to $3300 cashback on top of those rates. Terms are excellent as 100% payment double up plus 10 or 20% prepayment per calendar year which the 2 can be combined.
Hi,

Curious if the cashback is only for new cibc mortgages or does it work with renewals? I have been offered 1.92% 5 year fixed to renew with CIBC but no mention of cash back.
Member
Dec 12, 2013
401 posts
279 upvotes
Vancouver, BC
Georro wrote: @ThatGuy1121 Normally I'd advise my clients to go through a broker as your broker should be fighting for you to get the best rate. HSBC generally does tend to have the lowest of all rates imo, but they have some of the stricter policies versus other lenders. Try a broker, it can't hurt.

I'm not sure about the Premier account, usually your rate is based on assets + job, not the products you have with them.

Yup insurance with CMHC or some 3rd party insurer if need be. I'm sure you've read this across your research. As of July 1st if you are putting down below 20% with most insurers your buying power will decrease a bit. Insurance may seem like a lot up front, but spread over 25 years it isn't horrible.

800-900 k range will definitely get you something decent even in Vancouver. Good luck!
gman1975 wrote: Cibc is 1.82% insured or 1.92% conventional with up to $3300 cashback on top of those rates. Terms are excellent as 100% payment double up plus 10 or 20% prepayment per calendar year which the 2 can be combined.
javis wrote: Are these rates only available through CIBC directly or can brokers get these rates? Are there conditions for these rates?
Thank you very much to the three of you, I didn't expect to get this level of response and help. I'll be sure to post in that thread to get a quote!
Deal Addict
Sep 12, 2017
2483 posts
284 upvotes
I'm 2 years into my 5 year/ 30 year amortization mortgage. It is at 3% and is with first national. Is a switch possible? Would there e penalties?
Newbie
Oct 24, 2019
10 posts
2 upvotes
Has there been any word of movement with HSBC rates? They seem particularly slow to react to RBC moving the market here.
Sr. Member
Oct 12, 2005
906 posts
820 upvotes
Vancouver
reggyDeal wrote: I'm 2 years into my 5 year/ 30 year amortization mortgage. It is at 3% and is with first national. Is a switch possible? Would there e penalties?
Yes there will be a penalty. Call First National and see what their penalty is. Also see what they offer you if you do an early renewal.
Deal Addict
Mar 15, 2013
1036 posts
573 upvotes
Angus, ON
For all CAF (Military) I got a confirmed rate of 1.82 5yr fixed uninsured with my OG cash back offer (1 month Mortgage payment). You can now get up to $3000 CB. About $1200 for the average.
gmoney506 wrote: Update! I should be getting from BMO 1.82 5yr fixed uninsured Military rate (1.70 variable but no cash back). I decide to try and have them match 1.94 5yr fixed uninsured from HSBC. I submitted proof to my broker. I went to check on Fri and the rate had dropped for military to 1.82 5yr fixed uninsured. I will updated when I get my confirmation. “My first post was if you are Military BMO is now 2.02 5yr fixed uninsured (My current rate) with $1200 cash back( I have the old Jun/Jul promo locked in at one month mortgage payment cash back so $1550-$1600). I also got offered a 15k line of credit at 3.70 (Must be lower now) which I did not take but am thinking about it. You also get a free bank account ($15.45 value per month) for you and your spouse”.
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Deal Addict
Sep 27, 2005
1147 posts
337 upvotes
kh123 wrote: Hi,

Curious if the cashback is only for new cibc mortgages or does it work with renewals? I have been offered 1.92% 5 year fixed to renew with CIBC but no mention of cash back.
Cashback is for new mortgage to CIBC
Newbie
Mar 7, 2011
57 posts
95 upvotes
gman1975 wrote:
Cashback is for new mortgage to CIBC
Thanks for the contact.

New uninsured mortgage.
CIBC offered 1.93% 5 year fixed and 1.79% 5 year variable.
They said it's the 60 day quick close promo.
They also offer tiered cash back.
Last edited by rikeelau on Aug 13th, 2020 7:57 pm, edited 1 time in total.
Newbie
Dec 11, 2007
89 posts
125 upvotes
London
Refinancing with CIBC. The online early renewal with no pentaIy to renew early we received in July was 2.39. Our rate of 3.03 is up in November. I followed some of the promps advised and when they called I stated that the rate I was looking for was 1.94. Many offers later, three different agents, 2.16, 2.12, 2.06 and no appraisal fee, no penalty the person I decided to stick with finally called today with 1.91 for 5 year fixed! As this is a refinance we are happy with this rate and will sign and be done with it. It was actually more stressful than we anticipated and we are glad it is over with.
Deal Addict
Jan 19, 2003
1007 posts
412 upvotes
Looks like HSBC finally dropped their rates! https://www.hsbc.ca/mortgages/mortgage-offers/

1.86% fixed quick close (5 year)
1.76% fixed high ratio (5 year)
1.96% fixed non-high ratio (5 year)

I'll try to get the employee rates at the Don Mills location later this morning!
Sr. Member
May 7, 2007
540 posts
85 upvotes
vg19 wrote: Looks like HSBC finally dropped their rates! https://www.hsbc.ca/mortgages/mortgage-offers/

1.86% fixed quick close (5 year)
1.76% fixed high ratio (5 year)
1.96% fixed non-high ratio (5 year)

I'll try to get the employee rates at the Don Mills location later this morning!
I think we have the same rep, I dropped her an email this morning as well. Please let me know how it goes, we are in the same boat haha. Thanks.
Deal Addict
Feb 20, 2002
1673 posts
1193 upvotes
vg19 wrote: Looks like HSBC finally dropped their rates! https://www.hsbc.ca/mortgages/mortgage-offers/

1.86% fixed quick close (5 year)
1.76% fixed high ratio (5 year)
1.96% fixed non-high ratio (5 year)

I'll try to get the employee rates at the Don Mills location later this morning!
Nice - keep us posted. Going to reach out to my rep too.
Newbie
Sep 5, 2019
41 posts
45 upvotes
Getting 1.79% 5 yr variable non high-ratio. But the rep is saying no cashback on variable rate. is that true?
Deal Addict
Feb 20, 2002
1673 posts
1193 upvotes
vader_slri wrote: Nice - keep us posted. Going to reach out to my rep too.
My HSBC rep is saying 1.81% 5 yr fixed.
Deal Addict
User avatar
Feb 1, 2012
2223 posts
628 upvotes
GTA
so the deadline for the quick switch is today?

For a very limited time, get our Quick Close Switch rate when you transfer your mortgage to HSBC and close within 60 days of starting your application.1 The offer runs from June 15 to August 14, 2020.
Deal Addict
Mar 3, 2007
1331 posts
161 upvotes
Oakville
I got a approval from an "old branch" and it wasn't until I combed through this thread that I realized there were "new branch" specials.

I asked a "new branch" if I could transfer and was told that once the application is in, I am tied to the old branch.... kicking myself for not reading the thread :facepalm:

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