Real Estate

The Official Mortgage Rates Thread

Deal Addict
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Jan 31, 2018
1328 posts
215 upvotes
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
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Newbie
Sep 22, 2015
29 posts
3 upvotes
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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Jan 31, 2018
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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
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
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Dec 21, 2005
5254 posts
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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
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
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Feb 2, 2014
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Toronto
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
Owner/Principal Broker - First Toronto Mortgage - Mortgage Architects (#13176)
Real Estate Salesperson - Century 21 Innovative
President's Club Award Winner At The Mortgage Architects
Newbie
Mar 17, 2019
11 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
Jr. Member
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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%
Deal Addict
Jun 15, 2012
1839 posts
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Saskatoon
Polydectes wrote:
Mar 18th, 2019 4:15 pm
If you are ok with 4yrs rbc just posted 3.24%

If RBC can offer 3% on 1 year GIC in USD(negotiable) they are not making much out of 3.24% mortgages.
'The rich get richer and the poor get - children.'
Newbie
Apr 13, 2018
1 posts
Can I get some feedback please? Bought an assignment last year off someone (brand new condo move in ready for this May 2019).

Just got my rates and I'm a little confused as to why my variable rate is the same as my fixed rate?

House Price: 465,000
Down Payment: 100,000
Close: May
Income: 175,000
800+ Credit Score

5 year fixed: 3.45%
5 year variable: 3.45%

Scotiabank

?
Newbie
Apr 1, 2015
18 posts
3 upvotes
Sherwood Park, AB
Looking for a best Variable rate,
First mortgage
House price: 900 K
Down payment: 20%
Closing date: Just started looking
Primary resident: yes
Household income: combined 165k
No other debt
Credit score almost : 850- Both
Location: Surrey, BC

Thanks
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Feb 2, 2014
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Toronto
alexbai94 wrote:
Mar 18th, 2019 4:46 pm
Can I get some feedback please? Bought an assignment last year off someone (brand new condo move in ready for this May 2019).

Just got my rates and I'm a little confused as to why my variable rate is the same as my fixed rate?

House Price: 465,000
Down Payment: 100,000
Close: May
Income: 175,000
800+ Credit Score

5 year fixed: 3.45%
5 year variable: 3.45%

Scotiabank

?
Is May the occupancy date or the closing date? Any idea when the closing date is?
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
6961 posts
1723 upvotes
Toronto
Mahetha wrote:
Mar 18th, 2019 5:04 pm
Looking for a best Variable rate,
First mortgage
House price: 900 K
Down payment: 20%
Closing date: Just started looking
Primary resident: yes
Household income: combined 165k
No other debt
Credit score almost : 850- Both
Location: Surrey, BC

Thanks
3.00% 5-year variable is the best rate with 20% down, but it's for approvals only (after you have an accepted offer).
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 Addict
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Jan 31, 2018
1328 posts
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moochaoranges wrote:
Mar 18th, 2019 3:33 pm
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
This will be tight to qualify even at a 30 yr amortization - assuming 3k in property taxes you are at 41% GDS and it needs to be below 39%

Do you have higher income using a 2yr average or more downpayment ?

Reach out to any of the brokers on the forum to assist

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
1328 posts
215 upvotes
alexbai94 wrote:
Mar 18th, 2019 4:46 pm
Can I get some feedback please? Bought an assignment last year off someone (brand new condo move in ready for this May 2019).

Just got my rates and I'm a little confused as to why my variable rate is the same as my fixed rate?

House Price: 465,000
Down Payment: 100,000
Close: May
Income: 175,000
800+ Credit Score

5 year fixed: 3.45%
5 year variable: 3.45%

Scotiabank

?
Scotias variable rate is not competitive at the moment and you have better options available to you

3% 5yr variable

3.24% 5 yr fixed

Huge savings over the 5 yr term

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

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