Real Estate

The Official Mortgage Rates Thread

Newbie
Oct 13, 2011
8 posts
Halifax

How much is the mortgage owing? $241,000
-Roughly, what is the current market value of the property? $450,000
-Which city is the property located in? Halifax
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? BMO
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? 2012
-When is your renewal date? April 2020

There is a 50% chance I will be able to pay it off in full in 12-18 months.
Newbie
Jan 16, 2020
1 posts
Hi there, I want to thank you in advance for doing all this on this thread, I've found it very helpful.

Looking for a 5 year fixed. We have a quote of 2.69% (fully featured 15/15)from Canwise through Equitable. Is this about as good as it gets? anyone have any experience with Canwise or Equitable lately, I've seen a lot of both good and less good out there.

I am looking to renew my mortgage:
-How much is the mortgage owing? 320K
-Roughly, what is the current market value of the property? 400K
-Which city is the property located in? Regina
-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? Yes
-When did you buy the property? May 1 2015
-When is your renewal date? May 1 2020

Thanks!
Member
Nov 1, 2006
240 posts
77 upvotes
-How much is the mortgage owing? $345,000
-Roughly, what is the current market value of the property? $600,000
-Which city is the property located in? Orleans
-Is the property owner-occupied or a rental? Owner-occupied
-Who is your current lender? MCAP
-Do you have a HELOC tied to the mortgage? Not currently
-Is the mortgage CMHC insured? No
-When did you buy the property? 2015
-When is your renewal date? March 2

Looking at 5 year variable, 5 year fixed and 5 year with HELOC option. Thanks!
Newbie
Jan 16, 2020
1 posts
Very quick closing date coming up..please help advising best mortgage rate!
-What is the purchase price? $921K
-How much is the down payment? $184K
-Where it the property located? Scarborough
-When is the closing date? Feb 12, 2012
-Will the property be owner-occupied or a rental? Owner
Newbie
May 12, 2018
41 posts
20 upvotes
Mortgage is fixed closed.
Have $12.500 to put against balance. How much is the mortgage owing? $63.000
-Roughly, what is the current market value of the property?$190.000
-Which city is the property located in?Greenwood n.s
-Is the property owner-occupied or a rental? Owner occupied
-Who is your current lender? Scotia
-Do you have a HELOC tied to the mortgage? Yes / balance $0
-Is the mortgage CMHC insured? No
-When did you buy the property? Built in 2005
-When is your renewal date? April 6

Looking for a quote on a 5 year fixed term. thank you
Newbie
User avatar
Jan 15, 2020
3 posts
CdnRealEstateGuy wrote: 2.69% 5-year fixed is the best rate. Legal and appraisal fees covered. All standard terms and conditions, fair penalty lender.
What is the rate for 3 year fixed? Thanks.
Deal Addict
User avatar
Jan 31, 2018
1668 posts
292 upvotes
Snaggs68 wrote: Mortgage is fixed closed.
Have $12.500 to put against balance. How much is the mortgage owing? $63.000
-Roughly, what is the current market value of the property?$190.000
-Which city is the property located in?Greenwood n.s
-Is the property owner-occupied or a rental? Owner occupied
-Who is your current lender? Scotia
-Do you have a HELOC tied to the mortgage? Yes / balance $0
-Is the mortgage CMHC insured? No
-When did you buy the property? Built in 2005
-When is your renewal date? April 6

Looking for a quote on a 5 year fixed term. thank you
Many of the lenders we deal with have min mortgage amounts that unfortunately you wouldn't meet

Best would be to negotiate with your current lender

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
1668 posts
292 upvotes
poptart77 wrote: -How much is the mortgage owing? $345,000
-Roughly, what is the current market value of the property? $600,000
-Which city is the property located in? Orleans
-Is the property owner-occupied or a rental? Owner-occupied
-Who is your current lender? MCAP
-Do you have a HELOC tied to the mortgage? Not currently
-Is the mortgage CMHC insured? No
-When did you buy the property? 2015
-When is your renewal date? March 2

Looking at 5 year variable, 5 year fixed and 5 year with HELOC option. Thanks!
2.69% 5 yr fixed term would be your best rate at renewal
Full featured product with 20/20 prepayment

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
1668 posts
292 upvotes
Zandam wrote: Hi.

My mortgage is coming up for renewal in May 29. Could you please provide rate for 5 year fixed and variable? Thanks. I was on variable for the past 5 years at Prime minus 0.7. Wondering if I should go fixed or variable.

Details below:

-How much is the mortgage owing? $247k
-Roughly, what is the current market value of the property? $540k
-Which city is the property located in? Ajax
-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? 2015
-When is your renewal date? May 29 2020

Thanks
You have a few days before you can lock in but best rates are below at the moment

2.69% 5 yr fixed term

2.75% or prime - 1.20% on the variable side

Both full featured products

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
1668 posts
292 upvotes
yashgandhi wrote: Hi my mortgage is coming up for renewal in next 20 days. Could you please provide rate for 3 or 4 years fixed?

Details below:

-How much is the mortgage owing? $350,000
-Roughly, what is the current market value of the property? $780,000
-Which city is the property located in? Brampton
-Is the property owner-occupied or a rental? Owner
-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? 2014
-When is your renewal date? Feb 2020
You would need to go into an open as the process takes about 30 days start to finish

5 yr 2.69%
4 year 3.04%
3 yr 2.89%

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
1668 posts
292 upvotes
gundamwingZero wrote: is 2.94 a good rate for a first time home buyer? (not sure if I am asking the correct question Smiling Face With Open Mouth)...
this is a pre-approved rate though...
credit score for the household is above 750 (EQ and TU)...
Preapprovals are for peace of mind that you qualify for the amount your seeking

When you have a firm offer then any of the brokers on the forum can lock you into best rates

Phil
Phil Cragg
Mortgage Broker
Mortgage Outlet Inc Broker License #12628
Jr. Member
Feb 7, 2015
177 posts
129 upvotes
rateconnect wrote: Many of the lenders we deal with have min mortgage amounts that unfortunately you wouldn't meet

Best would be to negotiate with your current lender

Phil
Just curious what's roughly the estimated minimum mortgage amounts that lenders deal with?
Deal Fanatic
User avatar
Feb 2, 2014
7569 posts
2022 upvotes
Toronto
yashgandhi wrote: Hi my mortgage is coming up for renewal in next 20 days. Could you please provide rate for 3 or 4 years fixed?

Details below:

-How much is the mortgage owing? $350,000
-Roughly, what is the current market value of the property? $780,000
-Which city is the property located in? Brampton
-Is the property owner-occupied or a rental? Owner
-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? 2014
-When is your renewal date? Feb 2020
2.69% 5-years fixed. Legals and appraisal fees covered. All standard terms and conditions.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Fanatic
User avatar
Feb 2, 2014
7569 posts
2022 upvotes
Toronto
gundamwingZero wrote: is 2.94 a good rate for a first time home buyer? (not sure if I am asking the correct question Smiling Face With Open Mouth)...
this is a pre-approved rate though...
credit score for the household is above 750 (EQ and TU)...
Don’t waste your time rate shopping for a preapproval. All the promo rates you see posted here are for approvals only. Get preapproved to find out your max purchase price and start rate shopping after you have an accepted offer.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Fanatic
User avatar
Feb 2, 2014
7569 posts
2022 upvotes
Toronto
pwareham wrote: How much is the mortgage owing? $241,000
-Roughly, what is the current market value of the property? $450,000
-Which city is the property located in? Halifax
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? BMO
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? 2012
-When is your renewal date? April 2020

There is a 50% chance I will be able to pay it off in full in 12-18 months.
Go variable then as penalty is capped at 3 months interest. You’re looking around 3% 5-year variable.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative

Top

Thread Information

There are currently 10 users viewing this thread. (5 members and 5 guests)

applestew, g62kc, Raikkonen, Portlander, Mike15