Real Estate

The Official Mortgage Rates Thread

Deal Guru
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Feb 2, 2014
11231 posts
3350 upvotes
Toronto
JC0411 wrote: Does anyone have experience working with Pine Financial? Here's what they're offering me:
5 Year fixed term at 4.74%
3 Year fixed term at 4.77%
5 Year adjustable term at prime less 1.15% - rate as of today 5.3%

On rental properties, Pine Financial is offering me:
5-year fixed rate: 5.09%
5-year adjustable term at prime less 0.65% - rate as of today 5.8%

I also contacted TD (where my mortgage is currently) and their offer for either owner-occuppied or rental property is:
5-year Variable Closed at prime less 1.08% - rate as of today 5.52%
5-year fixed rate for owner-occupied may be high, as best rate is currently 4.59%.

All other rates look good.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Addict
Nov 9, 2017
1121 posts
162 upvotes
I have read BMO provides mortgage loans against GICs. Do any of the lenders here have the ability to loan against any type of investments? (liquid investments preferred)
Deal Addict
Oct 8, 2015
4279 posts
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Province of Bring Ca…
-What is the purchase price? 1.26M + 5% GST + PTT = 1.35M
-How much is the down payment? 0.5~0.6M
-Where it the property located? Coquitlam BC
-When is the closing date? mid March
-Will the property be owner-occupied or a rental? Owner-occupied
-Income: Avg 160K in the past couple of years

Currently we have $600k mortgage on our home, and we're looking to either rent current one out or sell it, and move to the new one.

One of the big 5 approved $800K / 5.29% / 3-yr fixed / 30yr and I'm looking for more options

Thanks
Newbie
Oct 5, 2021
4 posts
4 upvotes
For a purchase of a property:

-What is the purchase price? $1,133,000.00
-How much is the down payment? 20% - $226,000.00
-Where it the property located? Milton, ON
-When is the closing date? March 2023
-Will the property be owner-occupied or a rental? Owner-Occupied

Would 2-year fixed for 5.59% over 30 years amortization be considered good?
Member
Apr 30, 2019
489 posts
538 upvotes
Hello, I'm looking for a mortgage renewal for 1,2 or 3 years.

RBC is currently giving me the option of an early renewal of
2 yr - 5.72
3 yr - 5.55


-How much is the mortgage owing? 377K
-Roughly, what is the current market value of the property? 530K
-Which city is the property located in? Toronto, Ontario
-Is the property owner-occupied or a rental? Rental
-Who is your current lender? RBC
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? June 2019
-What was the purchase price? 513K
-When is your renewal date? June 2023

Any info would be appreciated
Deal Fanatic
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Jan 31, 2018
6550 posts
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naticom wrote: -What is the purchase price? 1.26M + 5% GST + PTT = 1.35M
-How much is the down payment? 0.5~0.6M
-Where it the property located? Coquitlam BC
-When is the closing date? mid March
-Will the property be owner-occupied or a rental? Owner-occupied
-Income: Avg 160K in the past couple of years

Currently we have $600k mortgage on our home, and we're looking to either rent current one out or sell it, and move to the new one.

One of the big 5 approved $800K / 5.29% / 3-yr fixed / 30yr and I'm looking for more options

Thanks
See below options for 30 yr am

4.99% 5 yr fixed
5.14% 3 yr fixed
pr-60 5 yr variable

Any of the pros can assist

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Deal Fanatic
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Jan 31, 2018
6550 posts
1246 upvotes
ObiterDicta wrote: For a purchase of a property:

-What is the purchase price? $1,133,000.00
-How much is the down payment? 20% - $226,000.00
-Where it the property located? Milton, ON
-When is the closing date? March 2023
-Will the property be owner-occupied or a rental? Owner-Occupied

Would 2-year fixed for 5.59% over 30 years amortization be considered good?
see below

See below options for 30 yr am

2yrs are typically not priced competitively but you should be able to get 5.49% or lower

4.99% 5 yr fixed
5.14% 3 yr fixed
pr-60 5 yr variable

Any of the pros can assist
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Deal Fanatic
User avatar
Jan 31, 2018
6550 posts
1246 upvotes
ironman77 wrote: Hello, I'm looking for a mortgage renewal for 1,2 or 3 years.

RBC is currently giving me the option of an early renewal of
2 yr - 5.72
3 yr - 5.55


-How much is the mortgage owing? 377K
-Roughly, what is the current market value of the property? 530K
-Which city is the property located in? Toronto, Ontario
-Is the property owner-occupied or a rental? Rental
-Who is your current lender? RBC
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? June 2019
-What was the purchase price? 513K
-When is your renewal date? June 2023

Any info would be appreciated
You can get 5.34% on a 3yr rental fixed term

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Newbie
Nov 6, 2022
2 posts
1 upvote
Renewing my mortgage in April.

-How much is the mortgage owing? 235K
-Roughly, what is the current market value of the property? 500K
-Which city is the property located in? Ottawa, Ontario
-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? Yes
-When did you buy the property? Dec 2015
-What was the purchase price? 405K
-When is your renewal date? April 2023
Deal Fanatic
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Jan 31, 2018
6550 posts
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Temp4Now wrote: Renewing my mortgage in April.

-How much is the mortgage owing? 235K
-Roughly, what is the current market value of the property? 500K
-Which city is the property located in? Ottawa, Ontario
-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? Yes
-When did you buy the property? Dec 2015
-What was the purchase price? 405K
-When is your renewal date? April 2023
On a previously insured file you have some great rates

4.79% 3yr fixed
4.59% 5 yr fixed
prime-1.15% on the variable side

All come with 20/20 prepayments and costs covered on the switch

Any of the pros can assist

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Newbie
Mar 23, 2020
3 posts
Hello,

please see below

-How much is the mortgage owing? 435 or 335 if I decide to lump sum down on renewal
-Roughly, what is the current market value of the property? 675K
-Which city is the property located in? Calgary, Alberta
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? CMLS
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? April 2018
-What was the purchase price? 635K
-When is your renewal date? April 2023

Thank you!
Deal Guru
User avatar
Feb 2, 2014
11231 posts
3350 upvotes
Toronto
Idafab wrote: Hello,

please see below

-How much is the mortgage owing? 435 or 335 if I decide to lump sum down on renewal
-Roughly, what is the current market value of the property? 675K
-Which city is the property located in? Calgary, Alberta
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? CMLS
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? April 2018
-What was the purchase price? 635K
-When is your renewal date? April 2023

Thank you!
Prime -1.15% 5-year variable, 4.84% 3-year fixed and 4.59% 5-year fixed is available to you.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Member
Apr 30, 2019
489 posts
538 upvotes
Thank you Phil. Do you have a quote for a 2 year rate by any chance?
rateconnect wrote: You can get 5.34% on a 3yr rental fixed term

Phil
Deal Fanatic
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Jan 31, 2018
6550 posts
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ironman77 wrote: Thank you Phil. Do you have a quote for a 2 year rate by any chance?
Likely around 5.69%

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Newbie
Jul 21, 2020
4 posts
1 upvote
Renewing my mortgage in February

-How much is the mortgage owing? 600K
-Roughly, what is the current market value of the property? 1.5M
-Which city is the property located in? Abbotsford, BC
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? Scotia
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? Feb 2018
-What was the purchase price? 1.1M
-When is your renewal date? Feb 2023
Last edited by eliolan on Jan 13th, 2023 1:13 pm, edited 1 time in total.
Deal Addict
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Jun 24, 2020
4119 posts
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eliolan wrote: Renewing my mortgage in February

-How much is the mortgage owing? 600K
-Roughly, what is the current market value of the property? 1.5M
-Which city is the property located in? Abbotsford, BC
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? Scotia
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? Feb 2018
-What was the purchase price? 1.1M
-When is your renewal date? Feb 2023
Are you sure the mortgage is CMHC insured if you bought the home for over $1 million? You would have had to buy it under $1 million to get an insured mortgage, unless you put the wrong purchase price. Let us know and we can give you an accurate quote. As it stands, insured mortgage rates are at:
- 4.79% 3 year fixed
- 4.59% 5 year fixed
- Prime - 1.15% 5 year variable
Newbie
Jan 12, 2023
5 posts
6 upvotes
Long-time lurker, first-time poster...

-What is the purchase price? 785K + 5% GST
-How much is the down payment? 330K
-Where it the property located? Vancouver BC
-When is the closing date? March 2023
-Will the property be owner-occupied or a rental? Owner occupied

Looking for 3yr, 5yr fixed or 5yr variable. Thanks!
Deal Addict
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Jun 24, 2020
4119 posts
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btfreek2 wrote: Long-time lurker, first-time poster...

-What is the purchase price? 785K + 5% GST
-How much is the down payment? 330K
-Where it the property located? Vancouver BC
-When is the closing date? March 2023
-Will the property be owner-occupied or a rental? Owner occupied

Looking for 3yr, 5yr fixed or 5yr variable. Thanks!
At the moment you are looking at the following:
- 4.84% 3 year fixed
- 4.59% 5 year fixed
- Prime - 1.15% 5 year variable

The above rates are available from a large monoline lender for a full featured mortgage.
Newbie
Jul 21, 2020
4 posts
1 upvote
You are correct, it was not CMHC insured, I copied a previous posts information and modified it to have my mortgage info, but neglected to edit the CMHC answer to no.
Deal Addict
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Jun 24, 2020
4119 posts
866 upvotes
eliolan wrote: You are correct, it was not CMHC insured, I copied a previous posts information and modified it to have my mortgage info, but neglected to edit the CMHC answer to no.
Not a problem. In this case you would have:
- 5.14-5.19% 3 year fixed
- 4.99% 5 year fixed
- Prime - 0.60% 5 year variable

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