Are these rates only available through CIBC directly or can brokers get these rates? Are there conditions for these rates?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
HSBC
HSBC Fixed rates: 1.84% 2-yr & 5-yr, 1.64% 5-yr Insured (with cashback ends Oct 30!)
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- javis
- Member
- Dec 23, 2006
- 355 posts
- 69 upvotes
- ejohan
- Sr. Member
- Oct 12, 2005
- 906 posts
- 820 upvotes
- Vancouver
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.
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.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!
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/
- minaso
- Newbie
- Jan 29, 2012
- 81 posts
- 31 upvotes
- Ottawa
Hello, I have a mortgage and HELOC at TD and switching to Tangerine. I thought both are registered as one charge but not sure.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.
Should I expect to pay the discharge and registration fees twice, one for the mortgage, and one for the HELOC?!
- kh123
- Newbie
- Jun 25, 2009
- 29 posts
- 14 upvotes
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.
- ThatGuy1121
- 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!
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!
- reggyDeal
- 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?
- eggnogchestre
- 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.
- ejohan
- Sr. Member
- Oct 12, 2005
- 906 posts
- 820 upvotes
- Vancouver
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.
- gmoney506
- 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”.
- gman1975
- Deal Addict
- Sep 27, 2005
- 1147 posts
- 337 upvotes
- rikeelau
- Newbie
- Mar 7, 2011
- 57 posts
- 95 upvotes
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.
- maggiepalmer
- 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.
- vg19
- 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!
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!
- CaptainCrash
- Deal Addict
- Apr 10, 2009
- 2845 posts
- 2536 upvotes
- Ontario
- LankyD
- Sr. Member
- May 7, 2007
- 540 posts
- 85 upvotes
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.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!
- vader_slri
- Deal Addict
- Feb 20, 2002
- 1673 posts
- 1193 upvotes
Nice - keep us posted. Going to reach out to my rep too.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!
- DealEnthusiast9
- 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?
- vader_slri
- Deal Addict
- Feb 20, 2002
- 1673 posts
- 1193 upvotes
My HSBC rep is saying 1.81% 5 yr fixed.vader_slri wrote: ↑ Nice - keep us posted. Going to reach out to my rep too.
- kwanyeung20
- Deal Addict
- 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.
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.
- simondaman
- 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
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