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TD Bank

Fixed mortgage rates drop - From 1.78%

  • Last Updated:
  • Dec 21st, 2022 9:48 pm
Deal Addict
Jul 7, 2008
1024 posts
830 upvotes
I'm currently with CIBC and I'm do for renewal, BMO offered me 1.25 variable for 5 years.
CIBC came back with an offer of 1.28 variable for 3 years or 1.33 for 5 years.
Is the CIBC offer decent?
It's a big headache switching banks and paying penalty fees and all my banking is with CIBC.
What do you guys think?
Member
User avatar
May 4, 2017
466 posts
198 upvotes
Vancouver, BC
AceMagnet wrote: I'm currently with CIBC and I'm do for renewal, BMO offered me 1.25 variable for 5 years.
CIBC came back with an offer of 1.28 variable for 3 years or 1.33 for 5 years.
Is the CIBC offer decent?
It's a big headache switching banks and paying penalty fees and all my banking is with CIBC.
What do you guys think?
I think the CIBC offer is decent for sure, especially considering your banking is there, and leg work involved etc. .08% or 8bps isn't much difference. You can compare the "true cost difference" between the two rates here: https://www.ratespy.com/mortgage-rate-comparison-calculator
Andy Hill
Mortgage Planner
Deal Addict
Jul 7, 2008
1024 posts
830 upvotes
AndrewHill wrote: I think the CIBC offer is decent for sure, especially considering your banking is there, and leg work involved etc. .08% or 8bps isn't much difference. You can compare the "true cost difference" between the two rates here: https://www.ratespy.com/mortgage-rate-comparison-calculator
Thank you for the link!
Very helpful to actually see the difference.
Newbie
Jun 2, 2021
7 posts
4 upvotes
Dealgains wrote: Just spoke to my BMO mortgage specialist contact today. BMO has a special variable rate promotion running from Nov 16 to Nov 30. You can get 1.15% for 5 years variable with 25 amortization owner occupied, uninsured (20% down or more). Also, if you're switching from another bank they will cover your discharge fees and FCT (legal fees).
Is this in the GTA? Can you send me your contact please?
Jr. Member
Mar 6, 2018
118 posts
141 upvotes
Ontario
Panpanda wrote: Is this in the GTA? Can you send me your contact please?
Sure, will do! And yes he is based out of GTA but the mortgage specialists are able to do the mortgage anywhere in Canada as the application is done remotely(online/over the phone) and you just need to go to your closest local branch to sign the documents once everything is approved.
REALTOR®
Deal Addict
Jul 7, 2008
1024 posts
830 upvotes
Dealgains wrote: Sure, will do! And yes he is based out of GTA but the mortgage specialists are able to do the mortgage anywhere in Canada as the application is done remotely(online/over the phone) and you just need to go to your closest local branch to sign the documents once everything is approved.
Hi Dealgains, was it the same guy you PMed me before?
Member
Apr 4, 2017
231 posts
256 upvotes
Internet
Any advantages in getting TD pre-approval in the branch vs. online? What are the chances to get better rates offline?
Member
Jan 24, 2007
480 posts
133 upvotes
Toronto
Dealgains wrote: Sure, will do! And yes he is based out of GTA but the mortgage specialists are able to do the mortgage anywhere in Canada as the application is done remotely(online/over the phone) and you just need to go to your closest local branch to sign the documents once everything is approved.
Can I please have the contact info for your BMO contact as well? I’m due up for renewal. Thanks so much
Newbie
Sep 19, 2020
16 posts
34 upvotes
For those of you interested in 5 year fixed, my contact has been able to secure between 2.41% to max 2.51% at TD depending on mortgage size and amortization. Larger mortgage size and lower amortization (25 year or less) will typically get the lower rate. Seems like this is the lowest available 5 year fixed rate across the board (at a bank) right now given how high rates have climbed over the past few weeks.
Newbie
Aug 24, 2018
4 posts
Scarborough Village,…
Wow. Really great thread.

Just wondering what's the best rate right now TD is offering for 3 yr fixed rate at 30 yr amortization for < 1M property in GTA?
Deal Addict
Apr 22, 2014
3738 posts
1543 upvotes
, ON
Cadbawdbawks wrote: For those of you interested in 5 year fixed, my contact has been able to secure between 2.41% to max 2.51% at TD depending on mortgage size and amortization. Larger mortgage size and lower amortization (25 year or less) will typically get the lower rate. Seems like this is the lowest available 5 year fixed rate across the board (at a bank) right now given how high rates have climbed over the past few weeks.
Can you share your contact please?

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