We’re one week into 2018, OSFI’s new mortgage stress test is live and the earth is still spinning on its axis. But that axis is now tilted…in credit unions’ favour. If you’re a mortgage shopper who’s been turned down by...
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Canada's Best Mortgage Rates Are Right Here!
We spy on Canada’s best mortgage rates 24/7, letting you compare mortgage rates from virtually every lender and top mortgage broker in the country. RateSpy.com’s proprietary technology scans thousands of mortgage websites four times a day so you know exactly where to find the best deals.
Unlike other rate comparison sites, we don’t ignore providers who don’t pay us. We list the lowest rates from all reputable sources so you don’t need to look elsewhere.
The Spy’s mission is to be:
- 100% transparent
- 100% unbiased
- The leader in Canadian mortgage rate comparison.
How to Use This Site
The biggest mistake borrowers make is focusing on the lowest rate when they should be looking for the best rate. There’s a difference. The best rate is the one that entails the least cost of borrowing. It factors in the upfront interest cost, all fees and closing costs, the penalty for breaking the mortgage early, portability privileges, refinance restrictions, prepayment rights, the option to borrow more before maturity, flexibility to blend the rate, rate conversion features and so on.
Before settling on any mortgage you see here, remember that contract flexibility can save you far more than a small rate difference. Pick up the phone or email the mortgage provider and have them compare their rate against the competition. Smart spies know the devil is in the fine print.
If you look back over the last 40-odd years, there’s never been a time where a 10-year fixed rate has saved you more than a 5-year fixed. A 10-year term’s rate premium over a 5-year fixed, let alone over a...