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Tangerine mortgage 5y fixed @ 1.99%

  • Last Updated:
  • Sep 16th, 2020 3:24 pm
Jr. Member
Dec 1, 2012
131 posts
154 upvotes
jfmartel wrote: Just renewed at Banque Nationale for 1.99%. Good time to renew for sure.
Fixed or Variable?
Deal Addict
Aug 5, 2015
4214 posts
5060 upvotes
Montreal, QC
jfmartel wrote: Just renewed at Banque Nationale for 1.99%. Good time to renew for sure.
Is that uninsured/low ratio?
Happy Koodo Public Mobile and Videotron Fizz customer :-)
Deal Addict
User avatar
Feb 28, 2005
2660 posts
670 upvotes
GTA
damn, just signed with TD 2.09% 5 year fixed, and I thought I was getting a solid deal.
Damage due to RFD Since April 2013: $8758.00
Sr. Member
Jan 14, 2017
753 posts
686 upvotes
steviee32m wrote: Is this available on a 30 year amortization
The application gives only 25 years. My understanding this is for new/refinancing, insured/uninsured and HELOC offer is for $2.35%.
Deal Addict
Jan 25, 2005
3222 posts
1908 upvotes
Surrey
Interesting, will check
Deal Addict
Feb 9, 2008
3322 posts
328 upvotes
True North Mortgage's 5year fixed is at 1.89% https://www.truenorthmortgage.ca/
Neither limited nor high ratio.
Not sure if it was our specific broker or not but we had a great experience so far (Duca was less than ideal but they resolved our issues after escalating, FCT we were not impressed with).
Feedback: HoFo, RFD
Deal Addict
Oct 24, 2010
2985 posts
3186 upvotes
Ottawa
evoviii wrote: Though 2% at a big 5 bank is good
Unless it's TD. They'd have to significantly beat the competition to pull me back into a collateral charge.
Sr. Member
Apr 23, 2016
717 posts
960 upvotes
Kelowna
Dynatos wrote: Here's Tangerine's break penalty calculator: https://www.tangerine.ca/en/calculators ... yment.html

Punch in your information there at 2.94% to see what the penalty is.

Then use a calculator like this to compare. Enter your current details and remaining term, your new details and remaining term, the penalty calculated from above, and see what it spits out for your interest savings.

A drop of 1% is huge. Depending on what's left in your term, it might pay off.

But you'll also have to find out if this applies to refinances. Deals like those usually apply to high ratio new purchases only.

Sadly, we closed our conventional (uninsured) $520k mortgage in January, when the lowest 5 year rate available was in the 2.6% range. The refinance rate would have to be really low for us to see a benefit. I knew I'd regret going fixed. C'est la vie.
Argh.. I also closed a 5 year fixed at 2.6 in January for my 170k mortgage. I broke my previous 10 year at 3.9 to get into that... my timing is always terrible with stuff like this.
Jr. Member
User avatar
Jan 14, 2008
143 posts
68 upvotes
Kelowna
I just renewed 5y fixed @ 1.99% with TD
Deal Addict
Aug 5, 2015
4214 posts
5060 upvotes
Montreal, QC
R35gtr wrote: Argh.. I also closed a 5 year fixed at 2.6 in January for my 170k mortgage. I broke my previous 10 year at 3.9 to get into that... my timing is always terrible with stuff like this.
2.6% is still very low based on historical levels, I've seen worse bad timing decisions than this Smiling Face With Open Mouth
Happy Koodo Public Mobile and Videotron Fizz customer :-)
Sr. Member
Jan 14, 2017
753 posts
686 upvotes
5dark wrote: True North Mortgage's 5year fixed is at 1.89% https://www.truenorthmortgage.ca/
Neither limited nor high ratio.
Not sure if it was our specific broker or not but we had a great experience so far (Duca was less than ideal but they resolved our issues after escalating, FCT we were not impressed with).

Just got a reply from True North - This 1.89% rate is for a High ratio purchase means less than 20% down payment or existing mortgage transfer with default Insurance active closing in 40 days or less for owner occupied properties only.
Deal Guru
User avatar
Dec 11, 2004
11150 posts
3859 upvotes
Montreal, QC
I'm getting 1.75% variable with MCAP through TNM/CanWise with the Value-Flex product for a renewal (low-ratio*)
Is everyone going for fixed these days?
Last edited by Daijoubu on Jul 31st, 2020 1:58 pm, edited 2 times in total.
Deal Addict
Jul 10, 2014
3877 posts
1975 upvotes
Ottawa, ON
1.76% 5-year fixed, high ratio - Intellimortgage
1.63% 5-year variable, high ratio - intellimortgage
1.70% 5-year variable, high ratio - CanWise
Deal Addict
Jan 19, 2003
1007 posts
412 upvotes
If you are certain that you won't break your mortgage during term, the HSBC fixed rates are much better, especially the new branch specials (in North York and Mississauga). These are UNINSURED (not high ratio) rates

-2-year fixed 1.69%
-5-year fixed 1.94% plus cash back ($1,200 for mortgages between $200,000 up to $399,999.99; $2,000 for mortgages between $400,000.00 up to $749,999.99, and $3,000 for mortgages greater than or equal to $750,000.00). The cashback results in a lower effective rate.

I have a contact at the North York branch if anyone is interested. But like I said, be certain you are okay going fixed at HSBC. They are NOT a fair-penalty lender and you will pay a hefty amount if you need to break before your term is up.
Deal Addict
Aug 5, 2015
4214 posts
5060 upvotes
Montreal, QC
Daijoubu wrote: I'm getting 1.75% variable with MCAP through TNM/CanWise with the Value-Flex product for a renewal (low-ratio*)
Is everyone going for fixed these days?
It would take a lower rate than this to make variable worthwhile when you can get a fixed at around 2%, in my opinion.
Happy Koodo Public Mobile and Videotron Fizz customer :-)
Deal Addict
Oct 24, 2010
2985 posts
3186 upvotes
Ottawa
willy0275 wrote: It would take a lower rate than this to make variable worthwhile when you can get a fixed at around 2%, in my opinion.
Especially with not much further to drop for prime...

Variable rates were higher than 5 year fixed rates 6 months ago.
Deal Addict
User avatar
Dec 26, 2006
3283 posts
567 upvotes
Roger21 wrote: Unfortunately here too, I really wanted to give them my business, but even the application took 3 weeks to get a responded to, all communication after that took weeks to reply to. Unless your mortgage renewal is in 6 months, I would go to a proper mortgage place.
Is this typical? Can anyone else comment on their timelines with Tangerine, particularly for a recent HELOC?

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