Real Estate

The Official Mortgage Rates Thread

  • Last Updated:
  • Apr 25th, 2019 7:42 pm
Newbie
Jan 11, 2019
17 posts
First mortgage
House price: $397,500
Down payment: 20%
Closing date: May 1st
Primary resident: Yes
Household income: 68,000
400$ / month car payments, no other debt
Good credit score

30-year amortization <-- does this affect rate?
5-year fixed

Want to be able to make prepayments
Mortgage can be transfered (is that the right term?) to another house if I move before I finish paying mortgage
Any other conditions of a mortgage I should be looking out for?

Best interest rate?
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Jan 31, 2018
756 posts
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xqcftwx wrote:
Mar 17th, 2019 6:10 pm
First mortgage
House price: $397,500
Down payment: 20%
Closing date: May 1st
Primary resident: Yes
Household income: 68,000
400$ / month car payments, no other debt
Good credit score

30-year amortization <-- does this affect rate?
5-year fixed

Want to be able to make prepayments
Mortgage can be transfered (is that the right term?) to another house if I move before I finish paying mortgage
Any other conditions of a mortgage I should be looking out for?

Best interest rate?
Best rates below given your situation note 30 yr rates do come with a premium on the variable side

5 yr fixed 3.24% 25 yr am

5 yr variable 3% prime -.95% 25 yr am

5 yr 3.24% 5 yr fixed 30 yrs

5 yr variable 3.25% or prime -.70%

Prepayments on the above are 20/20 annually and they are portable products

Phil
Phil Cragg
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Feb 2, 2014
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ToanT887 wrote:
Mar 17th, 2019 3:44 pm
Hi everyone, could you help me check what rate can I get. Thanks
Second mortgate
House price: $606k
Down payment: 20%
Closing date: march 28
Primary resident: yes
Household income: 140k
No other debt
Credit score almost 800
Amount borrow from other house: 279k
Rent out for $2300.
Thanks
You have 1.5 weeks until closing...you're a bit late on this.
Kevin Somnauth, CFA
Mortgage Broker - Mortgage Architects (#10287) and Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
Newbie
Oct 9, 2011
13 posts
Ajax
I haven't check this thread for a while. Has variable rate gone up? Last month 5 yrs variable was p-1.25.
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Dec 1, 2015
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Etobicoke, ON
The rate itself has not changed, but the discounts given to variable rate products changes all the time. Currently you can get a P-1.20% in some situations.
fsm7268 wrote:
Mar 18th, 2019 9:58 am
I haven't check this thread for a while. Has variable rate gone up? Last month 5 yrs variable was p-1.25.
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
Newbie
Apr 15, 2016
8 posts
Looking for open variable rate or great fixed rate 5 year

AB, Airdrie
First mortgage
House price: $315,000
Down payment: $120,000
Closing date: May/June
Primary resident: Yes
Household income: 82,000
390$ / month car payments, no other debt
Very good credit score, 700+

PM me please with best deal. I seen that Truenorth has 2.75 right now variable or 3.15 fixed, hoping someone can beat this.
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Jan 31, 2018
756 posts
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Zventures wrote:
Mar 18th, 2019 11:37 am
Looking for open variable rate or great fixed rate 5 year

AB, Airdrie
First mortgage
House price: $315,000
Down payment: $120,000
Closing date: May/June
Primary resident: Yes
Household income: 82,000
390$ / month car payments, no other debt
Very good credit score, 700+

PM me please with best deal. I seen that Truenorth has 2.75 right now variable or 3.15 fixed, hoping someone can beat this.
You can 3.09% on the fixed side and 2.80% on the variable

The 2.75% is likely on CMHC insured files as we can get the same rate

Sent message

Phil
Phil Cragg
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fsm7268 wrote:
Mar 18th, 2019 9:58 am
I haven't check this thread for a while. Has variable rate gone up? Last month 5 yrs variable was p-1.25.
Best rate available at the moment is 2.75% on insured deals with less than 20%

Discounts have changed slightly prime still at 3.95%

Phil
Phil Cragg
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Newbie
Sep 22, 2015
21 posts
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Toronto, ON
Is 3.29% 5 year fixed with a big 5 bank (TD in my case) a competitive rate for 5 year fixed?

House price: $300K
Down payment: $60K
Close: May
Great credit score

Prefer to be with a big 5 bank.
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luckydeeds66 wrote:
Mar 18th, 2019 2:09 pm
Is 3.29% 5 year fixed with a big 5 bank (TD in my case) a competitive rate for 5 year fixed?

House price: $300K
Down payment: $60K
Close: May
Great credit score


Prefer to be with a big 5 bank.
It is a very good bank rate

You can get better at 3.19% through the broker channel with the monolines

Phil
Phil Cragg
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Markham
Just got an email from Tangerine for 5 yr fixed @3.34% + $1500 cashback ...sign of impending rate war?
:idea: :) :lol: :razz: :D
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Jan 31, 2018
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charliebrown wrote:
Mar 18th, 2019 2:54 pm
Just got an email from Tangerine for 5 yr fixed @3.34% + $1500 cashback ...sign of impending rate war?
Better rates available depending on your situation

Rates are dropping on the fixed side for sure

Phil
Phil Cragg
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luckydeeds66 wrote:
Mar 18th, 2019 2:09 pm
Is 3.29% 5 year fixed with a big 5 bank (TD in my case) a competitive rate for 5 year fixed?

House price: $300K
Down payment: $60K
Close: May
Great credit score

Prefer to be with a big 5 bank.
It's a good rate from a Big Bank, but keep in mind their mortgages collateral. Try to avoid TD, Tangerine and National Bank.
Kevin Somnauth, CFA
Mortgage Broker - Mortgage Architects (#10287) and Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
Newbie
Mar 17, 2019
7 posts
First mortgage
House price: $400,000
Down payment: 20%
Closing date: May 1st
Primary resident: Yes
Household income: 61,000
Good credit score

-->Student loans of $50k which can be paid off immediately if necessary/will impact my ability. Hoping for some insight
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Sep 17, 2002
126 posts
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Vancouver
luckydeeds66 wrote:
Mar 18th, 2019 2:09 pm
Is 3.29% 5 year fixed with a big 5 bank (TD in my case) a competitive rate for 5 year fixed?

House price: $300K
Down payment: $60K
Close: May
Great credit score

Prefer to be with a big 5 bank.
If you are ok with 4yrs rbc just posted 3.24%

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