Real Estate

The Official Mortgage Rates Thread

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Jan 31, 2018
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Silver223 wrote: I'm looking for the best rates.

Market value $579000
Remaining $128000
Year purchased 2014
Location is in North York
No HELOC
Current lender CIBC
Owner occupied
Not CHMC insured

Looking for fixed rate 5 year.

Thanks in advance.
2.59% would be the best rate for a mortgage under 250k

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
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Jan 31, 2018
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Smokey6 wrote: Aug 2016.

Purchase price ~1250k, current market value is around 1400k.

Am I eligible for the 2.54% in that case? Is it 20/20 prepayment? Conventional mortgage? Any non-standard clauses?

Thanks in advance.

Thanks.
Details sent
Phil Cragg
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The6in6 wrote: First time homebuyer here!

-What is the purchase price? $797k
-How much is the down payment? $250k
-Where it the property located? Toronto. East end.
-When is the closing date? July 15
-Will the property be owner-occupied or a rental? Will be owner occupied .
2.67% if your best rate at 68% loan to value

If you can get to 65% loan to value rate drops to 2.54%

Hope this helps

Phil
Phil Cragg
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Mortgage Outlet Inc Broker License #12628
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Jan 31, 2018
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jllmoe wrote: First time home buyer:

-What is the purchase price? $598,000
-How much is the down payment? 20% of the purchase price
-Where it the property located? Barrie ON
-When is the closing date? August 15
-Will the property be owner-occupied or a rental? owner-occupied

Questions:

1. What would be the lowest rate I can get for 2 3 4 or 5yr fixed or variable?
2. what are the associated terms? (i.e. 20% / 20% for lump-sum/regular payments; penalty if break early due to selling the property, etc.)?

much appreciated!
John
Hi John I would be happy to quote the shorter term rates but they are no where near what you can get for a 5 yr fixed term

2.69% 20/20 prepayments 5 yr fixed

Phil
Phil Cragg
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Mortgage Outlet Inc Broker License #12628
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bergbergson wrote: Hi,
Looking for best rate from the banks and best rate from a broker

-What is the purchase price? $475k
-How much is the down payment? 20%
-Where it the property located? Victoria BC
-When is the closing date? Aug
-Will the property be owner-occupied or a rental? Owner

This would be 4-5 year fixed. I'm assuming variable is a non-starter (they seem to be advertised higher than fixed these days) but would be open to it as well
5 yr fixed monoline rate 2.69% vs bank rate 2.89% for a 5 yr fixed term

5 yr variable 2.85% or prime -1.10%

Phil
Phil Cragg
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Oct 30, 2005
36 posts
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Ottawa
Looking for mortgage renewal advice, thanks in advance:

-How much is the mortgage owing? $254,378.64
-Roughly, what is the current market value of the property? $380,000
-Which city is the property located in? Kanata
-Is the property owner-occupied or a rental? owner-occupied
-Who is your current lender? Scotiabank
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? August 13, 2017
-When is your renewal date? August 13, 2019
Jr. Member
Jul 26, 2008
125 posts
74 upvotes
rateconnect wrote: 2.74% would be the best rate in QC 5 yr fixed term

Phil
Hey Phil, would I not be eligible for the 2.69% at HSBC?
Deal Addict
May 17, 2012
2363 posts
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ontario
What is going on with these fixed rates falling while the Prime/variable rates have not moved? Only a few pts but I am now seeing fixed 5 yr lower than what i am paying on variable.
Newbie
Jun 14, 2019
2 posts
Would that be for a five year fixed? Would it also allow us to make annual payments towards the principal?
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Jan 31, 2018
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thewongster wrote: Hey Phil, would I not be eligible for the 2.69% at HSBC?
The broker channel does not deal with HSBC

Phil
Phil Cragg
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The6in6 wrote: Would that be for a five year fixed? Would it also allow us to make annual payments towards the principal?
5 yr fixed 20/20 prepayments

Phil
Phil Cragg
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iloverfd wrote: Looking for mortgage renewal advice, thanks in advance:

-How much is the mortgage owing? $254,378.64
-Roughly, what is the current market value of the property? $380,000
-Which city is the property located in? Kanata
-Is the property owner-occupied or a rental? owner-occupied
-Who is your current lender? Scotiabank
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? August 13, 2017
-When is your renewal date? August 13, 2019
Best rates 2.54% 5 yr fixed 20/20 prepayments

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Newbie
Oct 17, 2008
2 posts
Hi,
Looking for best rate from the banks and best rate from a broker

-What is the purchase price? $1.29million
-How much is the down payment? 470k
-Where it the property located? Vancouver BC
-When is the closing date? Oct
-Will the property be owner-occupied or a rental? Owner

I bank with BMO and partner with RBC. We are hoping to be able to pay off earlier than 25 year amortization. Which bank is best to go with for lowest rates and what would be a good rate to go with?
Newbie
Dec 6, 2016
48 posts
7 upvotes
rateconnect wrote: Hi John I would be happy to quote the shorter term rates but they are no where near what you can get for a 5 yr fixed term

2.69% 20/20 prepayments 5 yr fixed

Phil
Thank you so much Phil for your kind reply. My bank offered me the same rate but for 3-yr fixed. We are still debating on 3yr or longer term. I will reconnect with you if we decided to go with the 5yr term.

Thx again!
John
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Aug 21, 2008
1367 posts
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Hamilton
Looking for mortgage renewal advice, thanks in advance:

-Credit score? Excellent
-How much is the mortgage owing? $357.000
-Roughly, what is the current market value of the property? $800.000
-Which city is the property located in? Hamilton,ON
-Is the property owner-occupied or a rental? owner-occupied
-Who is your current lender? Icici Bank (Std mortgage)
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? June 2012
-Original buying price? $450.000
-When is your renewal date? July 2019

Would like to know rates:
Expenses (if any) on switching lender:
Expenses (if any) on switching lender + secured LOC:
Incentives:

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