The Official Mortgage Rates Thread

sudesingh wrote: ↑

Feb 20th, 2019 10:28 pm

Looking for a 5 yr variable rate for my mortgage coming up for renewal at the end of April. Balance amount $155,000

duddlsk wrote: ↑

Feb 20th, 2019 11:40 pm

First time home buyer looking for 5-year variable/fixed rates, currently offered 2.95% on variable.

Purchase price: ~$700k
Down payment: somewhere around 5-7%
Annual income: $170k combined
Location: Grimsby, ON - will be primary residence
Closing date: July, 2019
Excellent credit scores
$100k remaining in loan balance

Much thanks in advance.

CdnRealEstateGuy wrote: ↑

Feb 20th, 2019 11:51 pm

2.80% 5-year variable would be the best rate. If your mortgage is CMHC insured, then the rate would be 2.75% 5-year variable.

ilikedeals2323 wrote: ↑

Feb 21st, 2019 11:00 am

Can you help me with a renewal? Here are my details. I noticed youre in Toronto so thought I'd ask first incase you prefer local clients.

Will owe $286k at maturity (March 27, 2019)
Property is roughly worth $470k
Located in Ottawa, ON
Owner-Occuped
Current Lender - Alterna
No HELOC tied to mortgage
CMHC Insured (Genworth)
Possesion in March 27, 2014

sudesingh wrote: ↑

Feb 20th, 2019 10:28 pm

Looking for a 5 yr variable rate for my mortgage coming up for renewal at the end of April. Balance amount $155,000

duddlsk wrote: ↑

Feb 20th, 2019 11:40 pm

First time home buyer looking for 5-year variable/fixed rates, currently offered 2.95% on variable.

Purchase price: ~$700k
Down payment: somewhere around 5-7%
Annual income: $170k combined
Location: Grimsby, ON - will be primary residence
Closing date: July, 2019
Excellent credit scores
$100k remaining in loan balance

Much thanks in advance.

Sedul wrote: ↑

Feb 21st, 2019 12:25 pm

Hello,

Do you guys recommend using a Mortgage Broker to get a PreApproval - do they just pick one lender to provide preapproval assuming they do preapprovals?

Canwise and Butler doesnt seem to do preapproval according to the ratehub.ca website.

I'm looking for Toronto, ON 600k-700k Mortgage possibly.

I am thinking of 1 year Closed Fixed or 1 year Closed Variable or 5 year Variable Closed plans with at least 15%/15% prepay/lumpsum.

I read that Rate Connect or Paul Meredith team are good to work with?

Sedul wrote: ↑

Feb 21st, 2019 12:25 pm

Hello,

Do you guys recommend using a Mortgage Broker to get a PreApproval - do they just pick one lender to provide preapproval assuming they do preapprovals?

Canwise and Butler doesnt seem to do preapproval according to the ratehub.ca website.

I'm looking for Toronto, ON 600k-700k Mortgage possibly.

I am thinking of 1 year Closed Fixed or 1 year Closed Variable or 5 year Variable Closed plans with at least 15%/15% prepay/lumpsum.

I read that Rate Connect or Paul Meredith team are good to work with?

RockstarLeo wrote: ↑

Feb 21st, 2019 11:09 am

Question for the experts about renewal vs refinance:
My current mortgage was for a 25 year amortization period, started in 2015 and will be up for renewal in 2020.
However, I have increased my payment amounts, and so the current "remaining time" on my account is now closer to 15 years left.

When it comes time to renew in 2020, if I were to go with 20 years (i.e. original 25 with 5 years elapsed), would that count as a refinance, or would it be a renewal (thus with better rates) ?

CdnRealEstateGuy wrote: ↑3.24% 5-year fixed now available for insured and non-insured mortgages (max 65% LTV)!

You heard it here first! Fixed rates becoming very attractive to risk averse borrowers.

jj14 wrote: ↑

Feb 21st, 2019 4:56 pm

I am up for renewal and looking to change lending institutions

Current mortgage amount - $379,452
Approximate market value - Around $507,000
Original purchase date (month and year) - June 1 2008
Did you pay an insurance premium such as CMHC when you purchased the home? No
Did you refinance your mortgage since you owned your home? No
Do you have a second component such as a HELOC attached to your mortgage? Yes, National Bank All-in-One ($315K in mortgage, $64K in LOC)
Current lender - NBC
Is this your primary residence or a rental property? Primary
Location - Calgary
Maturity date - June 1 2019
30-year amortization remaining

I don't need access to the HELOC going forward, but would need to clear it (obviously) with the lender change. Thanks in advance for any rate information.

PaulMeredith wrote: ↑

Feb 21st, 2019 6:49 pm

Lowest 5 year fixed would be 3.34% or lowest 5 year variable would be prime -0.95% (3.00%). Your market value is pretty specific. Can I ask how you come up with that number? If there is more equity (greater than 30%), then lower rates may be available.