Real Estate

The Official Mortgage Rates Thread

  • Last Updated:
  • Apr 24th, 2019 9:12 pm
Deal Addict
Apr 26, 2004
2100 posts
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GTA
MooH wrote:
Oct 26th, 2018 12:53 pm
Hello;

Is 3.65% fixed 5 year for a 350k mortgage a good rate ? Should I shop around ?
You might be able to get lower, is this for 25 or 30 years amortization?

I’ve sent you a private message regarding some rates.
Mortgage Specialist in the GTA
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Feb 2, 2014
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MooH wrote:
Oct 26th, 2018 12:53 pm
Hello;

Is 3.65% fixed 5 year for a 350k mortgage a good rate ? Should I shop around ?
For an insured purchase, you can get 3.09% 5-year fixed still.

So there are much better rates out there.
Kevin Somnauth, CFA
Mortgage Broker - Mortgage Architects (#10287) and Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
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I want to thank valuemortgage for his help with our recent mortgage renewal. He was helpful, patient with our questions and excellent with following up with the lender. Thank you Andre!
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Member
Feb 8, 2010
290 posts
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Looking to buy in the spring. Are there any good pre-approval/rate hold rates out there?

max 750k purchase, 250k down. Ontario.

Looking at a 3 or 5 year fixed depending on rate difference, or even a variable if low enough.

Seems all the good rates are non-pre approvals though.
Newbie
Mar 5, 2013
1 posts
Mississauga
Looking to renew my mortgage.

Mortgage owing: 535k (at the time of renewal)
Value of home: ~670k
Bought: Apr. 2017
Renewal date: Apr. 2019
Amortization period: 30 years
Current lender: Scotiabank
Is the mortgage CMHC insured?: No. I put 20% down payment at the time of purchase.
Location: Mississauga
HELOC: No
Yearly income: 150k (single income household)

Looking for 3 to 5 years variable (or fixed if rate is good). Can change amortization period, pay off some principal to get a better rate.
Newbie
Nov 29, 2017
6 posts
Looking for possible mortgage rates

Purchase Price: 540k
Down: 5%
Amortization period: 25 years
Purchasing in next 60 days
Location: Surrey BC
Dual income: 130k combined
Credit Scores: Both greater than 800
Sr. Member
Jun 13, 2009
944 posts
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Putting 20% down on a house and getting offered a flex line from TD instead of a regular mortgage. Does it come out to about the same/average due to the rate hike?

Revolving portion is 4.15% (based on TD prime + 0.2) and term portion (based on TD prime -0.7) is 3.25%
5 year term - 30 years.
Deal Addict
Apr 26, 2004
2100 posts
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skwigglyline wrote:
Oct 26th, 2018 6:36 pm
Putting 20% down on a house and getting offered a flex line from TD instead of a regular mortgage. Does it come out to about the same/average due to the rate hike?

Revolving portion is 4.15% (based on TD prime + 0.2) and term portion (based on TD prime -0.7) is 3.25%
5 year term - 30 years.
You can do much better! I just sent you a private message.
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Sep 13, 2011
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plxGORF wrote:
Oct 26th, 2018 5:44 pm
Looking for possible mortgage rates

Purchase Price: 540k
Down: 5%
Amortization period: 25 years
Purchasing in next 60 days
Location: Surrey BC
Dual income: 130k combined
Credit Scores: Both greater than 800
Based on the information provided, lowest rate would be 5 year fixed at 3.19% or variable at prime -1.20% (2.75%).
Paul Meredith
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)
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slovit wrote:
Oct 26th, 2018 3:27 pm
Looking to renew my mortgage.

Mortgage owing: 535k (at the time of renewal)
Value of home: ~670k
Bought: Apr. 2017
Renewal date: Apr. 2019
Amortization period: 30 years
Current lender: Scotiabank
Is the mortgage CMHC insured?: No. I put 20% down payment at the time of purchase.
Location: Mississauga
HELOC: No
Yearly income: 150k (single income household)

Looking for 3 to 5 years variable (or fixed if rate is good). Can change amortization period, pay off some principal to get a better rate.
You are still too early to be shopping as the maximum rate hold with most lenders is 90 days. Looks like you are still sitting in that 20% equity position. If you were within the 90 day window now, the lowest rate would be 5 year fixed at 3.54% or variable at prime -1.05% (2.90%). Shorter term rates are actually higher.
Rates would start to get lower with each 5% increase to down payment on the variable. With 5 year fixed, you would need to have 30% equity to get a rate of 3.44%, or 35% to get down to 3.39%.
Paul Meredith
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)
Newbie
Oct 25, 2018
2 posts
Looking for renewal mortagage rates

Mortgage owing: $321000
House value: $535000
Renewal: nov 18
Home equity line of credit: $23000
Credit score: both over 800
Location: Ottawa
Yearly household income: $145000

Looking for 5 year fixed and variable rates.
Jr. Member
Feb 23, 2017
170 posts
90 upvotes
Looking for possible rates.

Price : 150-200k (might go lower and spend on renos if it's something I like)
Down payment : up to 40k (20%)
Score : 787
Debt: None
Income : 35k

Located in Saskatoon
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Sep 13, 2011
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Gfiddy wrote:
Oct 26th, 2018 10:18 pm
Looking for renewal mortagage rates

Mortgage owing: $321000
House value: $535000
Renewal: nov 18
Home equity line of credit: $23000
Credit score: both over 800
Location: Ottawa
Yearly household income: $145000

Looking for 5 year fixed and variable rates.
Providing that you have at least 35% equity in the home, which you do by the numbers you have posted, lowest 5 year fixed rate would be 3.39% or prime -1.24% (2.71%).
Paul Meredith
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)
Deal Addict
Apr 26, 2004
2100 posts
70 upvotes
GTA
Gfiddy wrote:
Oct 26th, 2018 10:18 pm
Looking for renewal mortagage rates

Mortgage owing: $321000
House value: $535000
Renewal: nov 18
Home equity line of credit: $23000
Credit score: both over 800
Location: Ottawa
Yearly household income: $145000

Looking for 5 year fixed and variable rates.
Who’s is your current lender?
Have you used 23000$ of your heloc?
Mortgage Specialist in the GTA

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