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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:
  • Nov 17th, 2020 6:16 pm
Sr. Member
Jan 19, 2003
580 posts
92 upvotes
HSBC dropped their rates again!

See here for what's available: https://www.hsbc.ca/mortgages/rates/

I just confirmed with my rep at Don Mills/Eglinton what the rates are at *new locations*. Here they are:

-2 year fixed 1.59%
-3 year fixed 1.74%
-5 year fixed non high ratio 1.69% with cashback
-5 year fixed high ratio 1.64% with cashback
-5 year variable 1.60% (p-0.85%)


If anyone would like my contact at the North York branch (Don Mills/Eglinton), PM me and I will share details! Note, you do have to go the branch in person to get the employee rate
Deal Addict
User avatar
Oct 29, 2002
2433 posts
94 upvotes
Ottawa
I don't see any mention of cashback on their site anymore. Is this confirmed and are the amounts the same as before?

FS: Nothing
Deal Addict
Jul 30, 2005
1952 posts
88 upvotes
vg19 wrote: HSBC dropped their rates again!

See here for what's available: https://www.hsbc.ca/mortgages/rates/

I just confirmed with my rep at Don Mills/Eglinton what the rates are at *new locations*. Here they are:

-2 year fixed 1.59%
-3 year fixed 1.74%
-5 year fixed non high ratio 1.69% with cashback
-5 year fixed high ratio 1.64% with cashback
-5 year variable 1.60% (p-0.85%)


If anyone would like my contact at the North York branch (Don Mills/Eglinton), PM me and I will share details! Note, you do have to go the branch in person to get the employee rate
Confirmed this new rate with my contacts at the Mississauga and Brampton branch as well.

If anyone would like my contact at the Mississauga branch PM me and I will share details. As vg19 mentioned above - you do have to go the branch in person to get the employee rate.
Newbie
Sep 9, 2020
4 posts
16 upvotes
TheGame wrote: I don't see any mention of cashback on their site anymore. Is this confirmed and are the amounts the same as before?
Looks like cashback is still being offered:

https://www.hsbc.ca/mortgages/mortgage-offers/

4 When you purchase a new property and are taking a new personal mortgage loan (“Mortgage”) with HSBC Bank Canada (“HSBC”) or move your existing Mortgage from another financial institution to HSBC, in the amount of CA$200,000 or more with a five year fixed closed term and make mortgage payments from your HSBC chequing or savings account, you may receive a cash bonus of $1,200 for mortgages between $200,000 up to $399,999.99; $2,000 for mortgages between $400,000.00 up to $749,999.99, and $3,000 for mortgages greater than or equal to $750,000.00 (the “Cash Back”) (the “HSBC Mortgage Cash Back Offer”). An appraisal fee of $300 per valuation may apply. The HSBC Mortgage Cash Back Offer runs from March 31, 2020 to October 2, 2020 inclusive (the “Offer Period”). HSBC Mortgage Cash Back Offer Terms and Conditions.
Newbie
May 20, 2007
49 posts
15 upvotes
Oshawa
Signed 3yr 1.74% Fixed on Aug. 21. Process was painless. PM if anyone needs a contact person at Markville Mall location in Markham.
Deal Addict
User avatar
Apr 5, 2008
2502 posts
105 upvotes
Toronto
What's the difference between non high ratio and high ratio?

Wasn't the cash back offer originally $1500?
Sr. Member
User avatar
Jul 10, 2003
664 posts
392 upvotes
Toronto
asdisme wrote: What's the difference between non high ratio and high ratio?

Wasn't the cash back offer originally $1500?
A high ratio mortgage is a mortgage in which a borrower places a down payment of less than 20% of the purchase price on a home. A high ratio mortgage will require mortgage insurance.

A non high ratio mortgage is a mortgage in which a borrower places a down payment of 20% or more of the purchase price on a home. No mortgage insurance is required.

The cash back amounts are the same as it was originally posted by the OP. Check the first post. :)
Jr. Member
Sep 12, 2008
196 posts
49 upvotes
Brampton
So do you all had to open HSBC account and mandatory signed for a HSBC MasterCard while signing a mortgage with HSBC.
Deal Addict
Jun 20, 2010
1216 posts
1273 upvotes
Are there good contacts in CALGARY? Or are the employee rates only available out in the east? Person With Folded HandsPerson With Folded HandsPerson With Folded Hands TIA
Sr. Member
Jan 19, 2003
580 posts
92 upvotes
rahulpatel1987 wrote: So do you all had to open HSBC account and mandatory signed for a HSBC MasterCard while signing a mortgage with HSBC.
A HSBC mortgage must be funded from a HSBC bank account. So yes, you have to open a bank account with them.

A HSBC MasterCard is not needed.
Newbie
Aug 31, 2020
1 posts
Casa Loma, ON
Looking for mortgage specialist based in Milton/Mississauga/ Brampton. Thanks in advance!
Sr. Member
Jun 26, 2013
762 posts
100 upvotes
Toronto
vg19 wrote: HSBC dropped their rates again!

See here for what's available: https://www.hsbc.ca/mortgages/rates/

I just confirmed with my rep at Don Mills/Eglinton what the rates are at *new locations*. Here they are:

-2 year fixed 1.59%
-3 year fixed 1.74%
-5 year fixed non high ratio 1.69% with cashback
-5 year fixed high ratio 1.64% with cashback
-5 year variable 1.60% (p-0.85%)


If anyone would like my contact at the North York branch (Don Mills/Eglinton), PM me and I will share details! Note, you do have to go the branch in person to get the employee rate
1.60% variable may be offered only for high ratio. When I reached bank they mentioned 1.99% variable for conventional non high ratio
Jr. Member
Nov 17, 2010
151 posts
106 upvotes
I called in today. I was offered 1.84% for refinance to bring my mortgage over from another provider. I asked about 1.69% and he said it was only for high ratio/insured? Cash back still applies- $3k for more than 750k. Rates are better in branch?
Member
Oct 12, 2005
371 posts
312 upvotes
Lower Mainland BC
tr0ck wrote: I called in today. I was offered 1.84% for refinance to bring my mortgage over from another provider. I asked about 1.69% and he said it was only for high ratio/insured? Cash back still applies- $3k for more than 750k. Rates are better in branch?
The rates posted here in the last couple of pages are only available at the new branches in Ontario (Don Mills, Mississauga, etc).
Jr. Member
Nov 17, 2010
151 posts
106 upvotes
ejohan wrote: The rates posted here in the last couple of pages are only available at the new branches in Ontario (Don Mills, Mississauga, etc).
I did not realize that- I am up to drive a little further for the better rates!

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