Real Estate

The Official Mortgage Rates Thread

Deal Addict
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Jun 24, 2020
1111 posts
208 upvotes
MoxMonkey wrote: First time home buyer in Ottawa wondering what sort of rates I should be looking at for a 5 year fixed 30 year ammortization.

-What is the purchase price? - $625,000
-How much is the down payment? - 20% - $125,000
-Where it the property located? Ottawa
-When is the closing date? End of April
-Will the property be owner-occupied or a rental? Owner occupied

Thanks.
1.54% five year fixed available
Last edited by TazZaide on Jan 21st, 2021 8:57 pm, edited 1 time in total.
Deal Addict
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Jun 24, 2020
1111 posts
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KindGrapes wrote: Hi beautiful people, looking for best rate available either for fixed or variable. I have a purchase offer, closing in a month and have been approved by one of the big 5 banks today..
Here is my details
- rate: 1.75%
- term: 5 years fixed over 30 years amortization
- purchase price: 550k
- down pay: 20%

I would like to know if this is usually as good as it gets for low monthly payment wise, or there is better deal I should strive for. Thanks in advance!
You definitely have much better available at 1.54% five year fixed or 1.40%-1.45% five year variable.
Newbie
Jun 24, 2016
2 posts
Hi everyone,

I am a first time home buyer looking for the best 5 year fixed rate with 25 years amortization.

- What is the purchase price? 531k
- How much is the down payment? 20%
- Where it the property located? Downtown Toronto
- When is the closing date? Mid March
- Will the property be owner-occupied or a rental? Owner occupied

Thank you!
Deal Addict
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Jun 24, 2020
1111 posts
208 upvotes
Krissy107 wrote: Hi everyone,

I am a first time home buyer looking for the best 5 year fixed rate with 25 years amortization.

- What is the purchase price? 531k
- How much is the down payment? 20%
- Where it the property located? Downtown Toronto
- When is the closing date? Mid March
- Will the property be owner-occupied or a rental? Owner occupied

Thank you!
1.54% five year fixed available
Deal Fanatic
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Feb 2, 2014
8519 posts
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Toronto
Krissy107 wrote: Hi everyone,

I am a first time home buyer looking for the best 5 year fixed rate with 25 years amortization.

- What is the purchase price? 531k
- How much is the down payment? 20%
- Where it the property located? Downtown Toronto
- When is the closing date? Mid March
- Will the property be owner-occupied or a rental? Owner occupied

Thank you!
1.54% 5-year fixed and 1.40% 5-year variable.

I wouldn’t overlook variable.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Fanatic
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Feb 2, 2014
8519 posts
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Toronto
honggil wrote: Just curious, could he not negotiate a better rate and take the early renewal? There wouldn't be any penalty right since it's an early renewal from same bank providing the mortgage.

Or are you saying don't take that 'specific' early renewal offer of 1.84%? <- If so I understand and that's clearer.
His renewal date is only 3-4 months away. He can transfer penalty free at that time and get a much better rate.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Newbie
Jan 20, 2021
1 posts
Looking for a quote on a new mortgage. 5 year fixed or variable, 30 year amortization.

-What is the purchase price? ~1,300,000
-How much is the down payment? 20%
-Where it the property located? Markham, ON
-When is the closing date? End of Feb
-Will the property be owner-occupied or a rental? Owner occupied
Deal Fanatic
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Feb 2, 2014
8519 posts
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Toronto
rfdreuser wrote: Looking for a quote on a new mortgage. 5 year fixed or variable, 30 year amortization.

-What is the purchase price? ~1,300,000
-How much is the down payment? 20%
-Where it the property located? Markham, ON
-When is the closing date? End of Feb
-Will the property be owner-occupied or a rental? Owner occupied
1.54% 5-year fixed and 1.40% 5-year variable are the best rates.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative

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