The Official Mortgage Rates Thread

mrllrm wrote: ↑ Hi,
I am coming up to renewal and property has switched during the term from owner-occupied to rental investment property (tenant occupied). Does the use increase mortgage rates available?

Looking for 5 year fixed, with prepayment options (e.g. 15/15), monoline lender, no HELOC.

Thanks.

digibytes2020 wrote: ↑ Hi ,
My current mortgage is with TD ,coming up for renewal . I am looking for 3 or 4 years fixed term . TD is offering me 1.89 for 2 or 3 years and 1.69 for 4 years fixed? Earlier i was planning to repay 30% of outstanding at the time of renewal . But looking at low interests now planning to continue for at least 3 years .
appreciate suggestions/feedback on the rates offered -

-How much is the mortgage owing? 280 K
-Roughly, what is the current market value of the property? 520 K
-Which city is the property located in? Montreal
-Is the property owner-occupied or a rental? Owner -Occupied
-Who is your current lender? TD
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property?2019
-When is your renewal date? 2021

MichaelS51991 wrote: ↑ -How much is the mortgage owing? $580000
-Roughly, what is the current market value of the property? $700k-750k
-Which city is the property located in? Vancouver BC
-Is the property owner-occupied or a rental? Owner
-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? February 2018
-When is your renewal date? February 1, 2020

davesaver wrote: ↑ Hello,

I am currently with RMG at 1.85% variable at Prime - 0.6%. I am looking for advise on renewals.

-How much is the mortgage owing? 245,000
-Roughly, what is the current market value of the property? 900,000
-Which city is the property located in? Brampton
-Is the property owner-occupied or a rental? Owner-occupied
-Who is your current lender? RMG mortgages
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? April 2016
-When is your renewal date? April 30, 2021

furthermore, there are three people on the title of the mortgage. One of them recently switched to jobs to contracting, how will that impact renewal process and rates?

JustLikePoison wrote: ↑ Hey there.

I am on a variable at 1.75% with TD. Wanted to see if it's worth switching. Any lenders that can can cover the switching costs and give me a variable rate under 1.5% range with cashback?

-How much is the mortgage owing? $478,000
-Roughly, what is the current market value of the property? $700,000
-Where is the property located in? Durham Region
-Is the property owner-occupied or a rental? Owner occupied
-Who is your current lender? TD
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? 2020
-When is your renewal date? 2025

mrllrm wrote: ↑ oh got it, thanks. Here's further detail:
-How much is the mortgage owing? $500k
-Roughly, what is the current market value of the property? $1M
-Which city is the property located in? Vancouver
-Is the property owner-occupied or a rental? Rental
-Who is your current lender? First National
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? 2016
-When is your renewal date? Apr 2020
-Rate of 2.6%

Renewal offer from lender 1.75% (10 days to accept). Any reason to actually take a renewal offer (other than avoid the paperwork)? Seems better to reapply, even from same lender, to get rate hold on case rates improve before renewal date. Also, if I don't take the renewal offer within 10 days, does lender re-issue new offer?

So 1.71 best rate currently?

Thanks!!

mrllrm wrote: ↑ Hi,
I am coming up to renewal and property has switched during the term from owner-occupied to rental investment property (tenant occupied). Does the use increase mortgage rates available?

Looking for 5 year fixed, with prepayment options (e.g. 15/15), monoline lender, no HELOC.

Thanks.

tylere wrote: ↑ Hello looking for some rates for a new purchase


-What is the purchase price? $720,000
-How much is the down payment? 20%
-Where it the property located? Calgary, AB
-When is the closing date? Feb 15, 2021
-Will the property be owner-occupied or a rental? Owner occupied

Thank you

OttawaBuyer1123 wrote: ↑ Looking to buy in Ottawa. What would be the best rates?

What is the purchase price? $480k

How much is the down payment? 35% (170k)

Where it the property located? Ottawa, ON

When is the closing date? April 2021

Will the property be owner-occupied or a rental? Owner

coolgk wrote: ↑ HSBC offered me fixed rate of 1.59 for 5 years 30 amt with 3K cash back? Is that good price? Any fine prints to look for before I sign the papers? TIA

IronRonin wrote: ↑Looking to lock in our mortgage rate as we currently have a 5-year variable with HSBC @ 1.34% (Prime - 1.11%)

What fixed rates are available for my situation?

-How much is the mortgage owing?
$1,118,200
-Roughly, what is the current market value of the property?
$1.8m
-Which city is the property located in?
Markham
-Is the property owner-occupied or a rental?
Owner-occupied
-Who is your current lender?
HSBC
-Do you have a HELOC tied to the mortgage?
No
-Is the mortgage CMHC insured?
No
-When did you buy the property?
April 2020
-When is your renewal date?
April 2025

Crossover wrote: ↑-What is the purchase price? $625K
-How much is the down payment? 15%
-Where it the property located? Downtown Toronto
-When is the closing date? March 2021
-Will the property be owner-occupied or a rental? Owner occupied