Real Estate

The Official Mortgage Rates Thread

Deal Addict
User avatar
Dec 1, 2015
1963 posts
918 upvotes
Etobicoke, ON
Many thanks for your kind comments, Djino! Im glad I was able to help you with your mortgage needs in QC.
djino wrote:
May 15th, 2016 11:51 am
I just wanted to thank valuemortgage for helping me with my renewal to another lender. I originally contacted him about 2 months ago about my end of April Maturity Date.

Very knowledgeable guy and got back to me very promptly about all the questions I had. This was my first time dealing with a Mortgage broker, and would highly recommend him and will likely contact him again on my next renewal.

djino
"Thanks for all your help!"
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
Deal Addict
Feb 21, 2004
1382 posts
177 upvotes
Montreal
ValueMortgage/CDNRealEstateGuy & Al,
Do any of you do commercial mortgages in QC? (Over 8 units rental properties)

Trying to figure out current CMHC & non rates for 5 year terms
Deal Addict
User avatar
Dec 1, 2015
1963 posts
918 upvotes
Etobicoke, ON
Jon Lai wrote:
May 16th, 2016 9:05 pm
Any new 5 year fixed specials this week?
It depends on what you classify as a "special". A 5y fixed rate for an owner occupied property is easily available at 2.44%, conventional or high ratio, without any unusual requirements or crazy high penalties.
HoTiCE_ wrote:
May 16th, 2016 9:13 pm
ValueMortgage/CDNRealEstateGuy & Al,
Do any of you do commercial mortgages in QC? (Over 8 units rental properties)

Trying to figure out current CMHC & non rates for 5 year terms
Sorry - I dont do commercial deals.
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
Deal Expert
May 30, 2005
42500 posts
3130 upvotes
Richmond Hill
valuemortgage wrote:
May 16th, 2016 9:44 pm
It depends on what you classify as a "special". A 5y fixed rate for an owner occupied property is easily available at 2.44%, conventional or high ratio, without any unusual requirements or crazy high penalties.
Thanks, as it seems like 2.44% has been the norm for a while, was going to see if there was a "special" for lower. For example, I was told last week there was a 45-day with MCAP at 2.39% with cash back. Was hoping for something similar to return.

Thanks.
***Bosch GLL1P Bright Single Line and Point Combination Laser $25***
Silver Coins | Bosch Combination Laser | Philips Wake-Up Light with Radio
Heatware | RFD Feedback
Deal Addict
User avatar
Sep 13, 2011
4811 posts
1709 upvotes
Toronto
Jon Lai wrote:
May 16th, 2016 10:19 pm
Thanks, as it seems like 2.44% has been the norm for a while, was going to see if there was a "special" for lower. For example, I was told last week there was a 45-day with MCAP at 2.39% with cash back. Was hoping for something similar to return.

Thanks.
There used to be a 2.39% 5 year fixed 45 day quick close with MCAP, however that promotion was discontinued last week unfortunately. No new specials yet, but let's keep our fingers crossed that something new comes out soon.
Paul Meredith
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)
Deal Addict
User avatar
Dec 1, 2015
1963 posts
918 upvotes
Etobicoke, ON
A few days ago, there was indeed a 2.39%.. there was also a 2.34%. But the nature of this business is that rates can change anytime, almost always without any notice (or a few hours at best).

So, if you need a rate for a purchase/switch/refinance, talk to a broker and lock something now... if it drops later, there is always a chance you can get the new lower rate (policies regarding rate drop varies a lot from lender to lender) later on. But waiting will almost certainly cost you money.

Jon Lai wrote:
May 16th, 2016 10:19 pm
Thanks, as it seems like 2.44% has been the norm for a while, was going to see if there was a "special" for lower. For example, I was told last week there was a 45-day with MCAP at 2.39% with cash back. Was hoping for something similar to return.

Thanks.
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
Member
Mar 1, 2014
358 posts
192 upvotes
Jon Lai wrote:
May 16th, 2016 9:05 pm
Any new 5 year fixed specials this week?
Yes, there is a 2.39% 5-yr fixed special, for purchase and refinance only.
Deal Expert
May 30, 2005
42500 posts
3130 upvotes
Richmond Hill
valuemortgage wrote:
May 16th, 2016 11:21 pm
A few days ago, there was indeed a 2.39%.. there was also a 2.34%. But the nature of this business is that rates can change anytime, almost always without any notice (or a few hours at best).

So, if you need a rate for a purchase/switch/refinance, talk to a broker and lock something now... if it drops later, there is always a chance you can get the new lower rate (policies regarding rate drop varies a lot from lender to lender) later on. But waiting will almost certainly cost you money.
Indeed we have already locked in 2.44, so we are safe on that end. Just wanted to be well informed when working with my broker :)
***Bosch GLL1P Bright Single Line and Point Combination Laser $25***
Silver Coins | Bosch Combination Laser | Philips Wake-Up Light with Radio
Heatware | RFD Feedback
Deal Addict
Mar 12, 2008
1604 posts
167 upvotes
Toronto
This was a long time coming but i figured id give a shout out to PaulMeredith for providing me with a smoking hot rate back in October last year. a full .3 lower then TD or any normal bank would offer.

Communicated purely in email and answered all my questions in a timely matter. He was also very forward with the dangers of certain products ( high break fees etc) and didnt try to hide any costs.

In the end he got me the best rate at the time and was easy to deal with so 2 thumbs up for PaulMeredithfrom me!
Deal Fanatic
User avatar
Feb 2, 2014
6824 posts
1681 upvotes
Toronto
bigmutt15 wrote:
May 16th, 2016 6:33 pm
Anyone deal with EQ bank? Currently have an offer of 5 year fixed at 2.42 or 5 year variable at 2.1. The best I am being offered other than that is Tangerine at 2.59 for 5 year fixed
EQ Bank is fairly new in the "A" market...they are known for their sub-prime loans.

Depending on the mortgage details, they are better rates available as well.
Kevin Somnauth, CFA
Owner/Principal Broker - First Toronto Mortgage - Mortgage Architects (#13176)
Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
Deal Fanatic
User avatar
Feb 2, 2014
6824 posts
1681 upvotes
Toronto
HoTiCE_ wrote:
May 16th, 2016 9:13 pm
ValueMortgage/CDNRealEstateGuy & Al,
Do any of you do commercial mortgages in QC? (Over 8 units rental properties)

Trying to figure out current CMHC & non rates for 5 year terms
Yes, I do commercial....I'm assuming this is a multi-family property?
Kevin Somnauth, CFA
Owner/Principal Broker - First Toronto Mortgage - Mortgage Architects (#13176)
Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3964 upvotes
BC
CdnRealEstateGuy wrote:
May 17th, 2016 11:14 am
EQ Bank is fairly new in the "A" market...they are known for their sub-prime loans.

Depending on the mortgage details, they are better rates available as well.
Has their recent influx of cash made a notable increase in their presence in the "A" market?

I think they were hoping for $200M in deposits in a year but got $7-800M in a few months :)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Fanatic
User avatar
Feb 2, 2014
6824 posts
1681 upvotes
Toronto
ace604 wrote:
May 17th, 2016 12:22 pm
Has their recent influx of cash made a notable increase in their presence in the "A" market?

I think they were hoping for $200M in deposits in a year but got $7-800M in a few months :)
Not really, because they haven't marketed themselves hard. Most brokers don't even know they do A business.

I'm guessing they aren't prepared to deal with underwriting high volumes yet, so they haven't unveiled themselves to all brokers yet.
Kevin Somnauth, CFA
Owner/Principal Broker - First Toronto Mortgage - Mortgage Architects (#13176)
Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects

Top

Thread Information

There are currently 10 users viewing this thread. (4 members and 6 guests)

f0rd, Muppet99, redhat82, Super_Coo