Ongoing Deal Discussion

[Tangerine] Tangerine Posted Rates 1.74% 5-year fixed

  • Last Updated:
  • Feb 6th, 2021 6:40 pm
[OP]
Member
Jun 24, 2012
226 posts
133 upvotes
Hamilton

[Tangerine] Tangerine Posted Rates 1.74% 5-year fixed

Deal Link:
Retailer:
Tangerine
More offers from Tangerine
Got a new "Insight" at Tangerine for a mortgage.

Their new posted rates look pretty competitive compared to the Big 5.

5 Year Variable Mortgage1.70%
1 Year Fixed Mortgage 2.79%
2 Year Fixed Mortgage 1.84%
3 Year Fixed Mortgage 1.69%
4 Year Fixed Mortgage 1.89%
5 Year Fixed Mortgage 1.74%
7 Year Fixed Mortgage 2.09%
10 Year Fixed Mortgage 2.14%

As well as their HELOC. Currently at 2.35% (Prime -0.10%)

For comparison, I called CIBC yesterday for the 1.49% 4-year fixed and was not eligible because it's a promo for new purchases only. The best they offered me was 1.79% fixed for a refinance.

Still not as good as the HSBC deal though.
57 replies
Deal Addict
Mar 25, 2006
1330 posts
294 upvotes
Toronto
wow, 7 years and 10 years rates are interesting, showing low rates outlook for the next 10 years.

HSBC 1.59% 5 years fixed uninsured is much better (but only if you don't need to break your mortgage as their IRD calculation is not fair)
Sr. Member
May 9, 2012
823 posts
212 upvotes
Montreal
Would a 10 year term be better at 2.14 or 5 yr fixed at 1.74 and take the risk of seeing what new date is given after the 5 year? .. were talking 0.34 points difference but $ too :).
Newbie
Mar 6, 2018
51 posts
40 upvotes
Those rates are pretty high... my BMO contact is currently offering 1.60 for 5 years fixed, 1.45 for 4 years fixed and 1.45 for 5 year variable, owner occupied with 25 year amortization, uninsured mortgages. Rates are even lower for insured mortgages I believe.
Last edited by Dealgains on Dec 11th, 2020 9:49 am, edited 1 time in total.
Deal Addict
Mar 25, 2006
1330 posts
294 upvotes
Toronto
Dealgains wrote: Those rates are pretty high... my BMO contact is currently offering 1.60 for 5 years fixed, 1.45 for 4 years fixed and 1.45 for 5 year variable, owner occupied with 25 year amortization.
are the rate for High ratio or Low ratio?
Deal Addict
Mar 25, 2006
1330 posts
294 upvotes
Toronto
Richhy wrote: As well as their HELOC. Currently at 2.35% (Prime -0.10%)
Is it possible to get HELOC from them while the mortgage on the house is with another bank (standard charge mortgage)?
Newbie
Nov 25, 2010
95 posts
152 upvotes
Laval
Would love to take advantage of the lower rates and get out of my 3.14 fixed rate mortgage with First National, but it's so expensive to get out of the existing mortgage...
Member
Sep 13, 2007
433 posts
45 upvotes
Toronto
any banks offering to cover penalites?
I got a new mortgage in jan 2.84% with TD 5 year fixed.
With such low rates I would love a lower rate but anyone institution willing to cover the penalty?
Sr. Member
May 17, 2007
602 posts
180 upvotes
Toronto
dib wrote: Would love to take advantage of the lower rates and get out of my 3.14 fixed rate mortgage with First National, but it's so expensive to get out of the existing mortgage...
did you calculate the savings?
Newbie
Nov 25, 2010
95 posts
152 upvotes
Laval
I tried to and it did look like it wasn't worth it, I have ~ 2 1/2 years left with ~ 210k
Newbie
Aug 22, 2018
89 posts
42 upvotes
Mississauga
Silly question may be ... but moving mortgage from one provider to other ... does it require all the checks that happened when we take mortgage first time ? Or the banks just accepts your mortgage from other bank without deep checks ?
Member
Sep 27, 2004
272 posts
44 upvotes
Ottawa
premalmistry wrote: Silly question may be ... but moving mortgage from one provider to other ... does it require all the checks that happened when we take mortgage first time ? Or the banks just accepts your mortgage from other bank without deep checks ?
yes
Deal Guru
Mar 22, 2004
13485 posts
4009 upvotes
RFD
Isn't variable better right now with the low rates the past few years it seems to have steadily dropped and I don't see them rising even after vaccines
Sr. Member
User avatar
May 10, 2013
847 posts
292 upvotes
Need some help.

I've been thinking renewing my mortgage still have 20 months left. To break it will cost me $9.5k penalty fee. I'm currently on 2.59% interest for 5 year fixed. 16 years Amortization.

Is it worth it?
Member
Sep 17, 2007
278 posts
125 upvotes
Wasaga Beach
bingo_jake wrote: Is it possible to get HELOC from them while the mortgage on the house is with another bank (standard charge mortgage)?
No, they will only do HELOC if you have mortgage with them.

As a side note, I they gave me 2.15% on the HELOC. (Prime - 0.3)
Sr. Member
Sep 9, 2015
969 posts
571 upvotes
Nanaimo
Rsnav09 wrote: Need some help.

I've been thinking renewing my mortgage still have 20 months left. To break it will cost me $9.5k penalty fee. I'm currently on 2.59% interest for 5 year fixed. 16 years Amortization.

Is it worth it?
You need to call your bank and ask them what it would cost to break it, they'll tell you exactly and if it's worth switching. we don't know how much you'll save without knowing your mortgage amount and your bank's fees.
Deal Addict
Jun 4, 2012
1450 posts
1016 upvotes
BC
mortgage rates are definately going down these days... this is decend given you do not need to negotiate with the bank reps...

too bad I've broken my mortgage once and the rate is not low enough to justify another penalty.

good for those that need a new / renewal mortgage soon
Newbie
Aug 2, 2017
19 posts
5 upvotes
dib wrote: Would love to take advantage of the lower rates and get out of my 3.14 fixed rate mortgage with First National, but it's so expensive to get out of the existing mortgage...
I have 2.69 with first national , more than 3 years left. I did the computation. The penalty is less than the big banks. My saving is small but switching to the big bank. I have access to HELOC. My broker told me the penalty is less compare to big bank. The switch is do-able.

Top