Real Estate

The Official Mortgage Rates Thread

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Sep 13, 2011
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License To Chill wrote: -How much is the mortgage owing? $170,000

-Roughly, what is the current market value of the property? $400,000

-Which city is the property located in? Ladysmith BC

-Is the property owner-occupied or a rental? Owner occupied

-Who is your current lender? CIBC

-Do you have a HELOC tied to the mortgage? No

-Is the mortgage CMHC insured? Yes

-When is your renewal date? June 2020
As of right now, the lowest 5 year fixed rate is 2.64%. Maximum rate hold is 120 days, so still a little outside of your renewal window. With any luck, rates will be a little lower by then. :)
Paul Meredith
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spawnisalive wrote: Looking for 5 year fixed and variable rates based on the following detail. PM me for more details to initiate pre-approval.
- What is the purchase price? ($370,000)
- How much is the down payment? ($74,000)
- Where it the property located? (Oshawa, Ontario)
- When is the closing date? (requesting Pre-approval)
- Will the property be owner-occupied or a rental? (Owner-occupied)

Thank you in advance.
The lowest 5 year fixed with a 20% down payment is 2.74%. If you can come up with 25%, then the rate drops to 2.59%. As with all of the low rate promos however, these rates cannot be locked in until you have an accepted offer in place. If you haven't done so already, i'd suggest reaching out to a broker to get pre-qualified to ensure you won't have any issues purchasing in your target range.
Paul Meredith
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Ninjamon wrote: Looking for a 5-year fixed rate quote based on the following. Thank you in advance to all the helpful Brokers on this amazing thread!

For a purchase of a property:
- What is the purchase price? ($860,000)
- How much is the down payment? ($280,000)
- Where it the property located? (Markham, Ontario)
- When is the closing date? (March 26, 2020)
- Will the property be owner-occupied or a rental? (Owner-occupied)

Thank you in advance.
Thanks for the info! The lowest 5 year fixed rate in your situation is 2.59%. Fully featured mortgage with full 20/20 prepayment privileges.
Paul Meredith
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Newbie
Nov 25, 2019
4 posts
Hi can anyone help me with my mortgage rate. I am closing my first house in March

542K
25-35% down
Quebec
What 5 year rates can I get?

Thank you
Newbie
Jan 27, 2020
9 posts
PaulMeredith wrote: Thanks for the info! As with all of the low rate promos, you won't be able to lock in a rate until you have an accepted offer in place, so these rates are subject to change. The lowest 5 year fixed with 20% down payment is 2.74%. With 25% or greater, then you can get 2.59%.
Hey Paul, thank you for reaching out. Is it fully featured? I'm very interested, and aggressively looking for a suitable place to buy in the coming month.
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Jan 31, 2018
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PhillipD40912 wrote: Hi can anyone help me with my mortgage rate. I am closing my first house in March

542K
25-35% down
Quebec
What 5 year rates can I get?

Thank you
Best with 35% down is 2.59% restrictive (2.75% on balance penalty if you break) vs 2.64% non restrictive

25 % down 2.79% in Quebec

Phil
Phil Cragg
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Nov 25, 2019
4 posts
rateconnect wrote: Best with 35% down is 2.59% restrictive (2.75% on balance penalty if you break) vs 2.64% non restrictive

25 % down 2.79% in Quebec

Phil
Thanks.

Who is giving the 2.59% and 2.64%? That interests me.

Also would a HELOC by able to be added on? what rate?
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Feb 2, 2014
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PhillipD40912 wrote: Thanks.

Who is giving the 2.59% and 2.64%? That interests me.

Also would a HELOC by able to be added on? what rate?
It's with a fair penalty lender from the broker channel.

No HELOC available for that rate. You can get one in 2nd position later on though.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
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May 9, 2006
805 posts
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Mississauga
maturity date april 15
balance on mat 160K
house worth rougly 1.2mil
owner lives on the prop.

possible to borrow 650K on it? when should I start the paper work?
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PeteL11458 wrote: Hey Paul, thank you for reaching out. Is it fully featured? I'm very interested, and aggressively looking for a suitable place to buy in the coming month.
Indeed it is! Fully featured with full 20/20 prepayment privileges, with a fair penalty lender. Happy to help if you have any further questions. :)
Paul Meredith
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Newbie
Jan 28, 2020
1 posts
Hi, just wondering -

I have a 1-year fixed mortgage up for renewal on March 1st, 2020 with BMO currently but I'm likely looking for another lender. I'm just wondering what's the latest date I should have something else locked in by to ensure it's transferred over properly from BMO?

Thanks!
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Feb 2, 2014
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djjungly wrote: maturity date april 15
balance on mat 160K
house worth rougly 1.2mil
owner lives on the prop.

possible to borrow 650K on it? when should I start the paper work?
You can start now since you are within 120 days.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Newbie
Nov 12, 2014
16 posts
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Ottawa
Thanks in advance. Looking for 5 yr fixed.

-What is the purchase price?
$870k

-How much is the down payment?
40% (proceeds of sale of current home)

-Where it the property located?
Ottawa

-When is the closing date?
May 28

-Will the property be owner-occupied or a rental?
Owner
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ASJ113 wrote: Thanks in advance. Looking for 5 yr fixed.

-What is the purchase price?
$870k

-How much is the down payment?
40% (proceeds of sale of current home)

-Where it the property located?
Ottawa

-When is the closing date?
May 28

-Will the property be owner-occupied or a rental?
Owner
Thanks for the info! The lowest 5 year fixed for your situation would be 2.59%. Fully featured mortgage with a fair penalty lender. There are shorter term and variable rates available as well, however they are at higher rates.
Paul Meredith
Mortgage Broker, Author
(lic. 10532)
Sr. Member
May 9, 2006
805 posts
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Mississauga
CdnRealEstateGuy wrote: You can start now since you are within 120 days.
thanks what would the rate be if property is in Mississauga?

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