Real Estate

The Official Mortgage Rates Thread

Newbie
Feb 8, 2009
65 posts
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Welland
CdnRealEstateGuy wrote:
Feb 5th, 2019 7:46 pm
For refinances, best rates are 3.54% 5-year fixed and 3.20% 5-year variable.

If you don't refinance (don't take out extra funds), best rates are 3.29% 5-year fixed and 2.80% 5-year variable for non-insured transfers (even lower if insured).
My renewal with First National is up in May and I am opting to refinance be it with whomever.
My question is do any of the lenders cover the legal, appraisal fees etc..
If not can some or all fees be added to the refinance?
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Jan 31, 2018
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69'Camaro wrote:
Feb 6th, 2019 1:30 pm
My renewal with First National is up in May and I am opting to refinance be it with whomever.
My question is do any of the lenders cover the legal, appraisal fees etc..
If not can some or all fees be added to the refinance?
3.54% available with legals covered & appraisal 5 yr fixed

Phil
Phil Cragg
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Feb 2, 2014
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ilya123 wrote:
Feb 6th, 2019 1:19 pm
I heard some condo buildings are "black-listed" by all lenders, meaning they require a larger downpayment than 20%. Can someone advise if a particular condo building I'm looking at is blacklisted or not?
It's because the condo corp has financial issues. If the status certificate if good, you should be fine.

You can also call up the CMHC and confirm if they blacklisted the condo.
Kevin Somnauth, CFA
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My mortgage is up for renewal June 20, the 120days is coming up soon..
Current Mortgage is $292k and am looking to refinance and take some equity out for repairs, I’m in Ottawa. Any lenders out there a bit more flexible on appraisal/equity cash?
Jr. Member
Feb 1, 2009
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Toronto
What can you guys offer here?

Purchase price: $1MM
Down payment amount (or percentage): 20%
Primary residence or rental property: Primary
Location: Toronto
Closing date: TBD

Need amortizing over 30 years. Interested in 3,5yr fixed and variable closed. No extra prepayments.
Newbie
Feb 10, 2018
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Do we have rates going down for uninsured mortgages with 20% down here as well. Seems like banks have reduced rates to 3.49 from 3.59 for 5 yr fixed.

I am hoping competition would heat up as we get closer to spring.
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Msh3ll wrote:
Feb 6th, 2019 4:01 pm
My mortgage is up for renewal June 20, the 120days is coming up soon..
Current Mortgage is $292k and am looking to refinance and take some equity out for repairs, I’m in Ottawa. Any lenders out there a bit more flexible on appraisal/equity cash?
Can you tell me how much the property is worth

How much cash out do you need

Current lender

Let me know

Phil
Phil Cragg
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roofster wrote:
Feb 6th, 2019 5:46 pm
What can you guys offer here?

Purchase price: $1MM
Down payment amount (or percentage): 20%
Primary residence or rental property: Primary
Location: Toronto
Closing date: TBD

Need amortizing over 30 years. Interested in 3,5yr fixed and variable closed. No extra prepayments.
Best rates below

3.49% 5 yr fixed

rates are not better than the 5 yr on the 3yr fixed

3.25% 5 yr variable

Is the purchase price exactly a million ?

Phil
Phil Cragg
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Redeagles wrote:
Feb 6th, 2019 5:52 pm
Do we have rates going down for uninsured mortgages with 20% down here as well. Seems like banks have reduced rates to 3.49 from 3.59 for 5 yr fixed.

I am hoping competition would heat up as we get closer to spring.
3.39% is the best rate throught the broker channel 120 day hold

Phil
Phil Cragg
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Jan 9, 2011
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rateconnect wrote:
Feb 6th, 2019 6:02 pm
Can you tell me how much the property is worth

How much cash out do you need

Current lender

Let me know

Phil
I’d have to get it appraised but I’m figuring around $400-$420k. Ideally I’d like $35k to do some major things like siding (we have 1970s aluminum, it’s quite cold in the winter!), current lender is Merix Financial through a broker.
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Jan 17, 2019
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rateconnect wrote:
Feb 6th, 2019 6:10 pm
3.39% is the best rate throught the broker channel 120 day hold

Phil
What are the details regarding this mortgage rate?
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Msh3ll wrote:
Feb 6th, 2019 7:27 pm
I’d have to get it appraised but I’m figuring around $400-$420k. Ideally I’d like $35k to do some major things like siding (we have 1970s aluminum, it’s quite cold in the winter!), current lender is Merix Financial through a broker.
If the value came in at 420k you could refinance up to 336k

Hope this helps

Phil
Phil Cragg
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Rocket899 wrote:
Feb 6th, 2019 8:10 pm
What are the details regarding this mortgage rate?
20/20 prepayment options regular product with a 120 day hold

3 months interest or the interest rate differential(Greater of) if you were to break mid term

Phil
Phil Cragg
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Mortgage Outlet Inc Broker License #12628
Jr. Member
Feb 1, 2009
183 posts
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Toronto
rateconnect wrote:
Feb 6th, 2019 6:07 pm
Best rates below

3.49% 5 yr fixed

rates are not better than the 5 yr on the 3yr fixed

3.25% 5 yr variable

Is the purchase price exactly a million ?

Phil
Thanks.

Could be plus/minus 150k I suppose.
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roofster wrote:
Feb 6th, 2019 9:58 pm
Thanks.

Could be plus/minus 150k I suppose.
Better rates under a million with 25 yr amortization

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628

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