Tag Archive: 10-year fixed


10-year Fixed Rates Could Rebound Quicker

If you’ve got a hankering for a mortgage with maximum rate assurance, none beats the 10-year fixed. But once Canada rounds the corner on its economic recovery, 10-year rates could climb faster than other mortgage rates. The reason: 10-year terms reflect longer-term economic expectations than 5-year terms, for example. As a result, they often react more to changes in the...

10-year Fixed Rates Shatter Record. First Time Under 2%

Only fools lock in for a decade. That’s what many thought prior to this year, and some still do. But at least now it’s more debatable. That’s because, for the first time ever, there’s a 10-year mortgage with a 1-handle. On Monday, a few mortgage brokers started advertising a 1.99% 10-year fixed, breaking Tangerine’s prior record of 2.14%. The move...

Tangerine’s 10-year Fixed Rate Smashes Record

—The Mortgage Report: Nov. 23— Bond yields stopped falling three months ago but that hasn’t stopped Tangerine from launching one sweet 10-year special. If you: think the economy will turn around in 2021, and think rates are near a medium-term (or longer) bottom, and want maximum protection from future rate increase, thenTangerine’s new 10-year fixed rate might just check your...

People Are Locking in Till 2030 at Record Low Rates

—The Mortgage Report: July 29— Decade Rates at All-time Lows: In Ontario, folks can now enjoy borrowing cost certainty for a tenth of a century, at effective rates as low as 2.59% through brokers. 10-year fixed rates have literally never been lower. Most borrowers wouldn’t think of paying 50+ basis points more (on top of a 5-year fixed) to get...

10-year Fixed Rates Sink to Record Lows

—The Mortgage Report: June 19 — Long-term Money on Sale: If you’re willing to commit to a decade-long term, and you live in Ontario, you can now do it for less than at any time in history. 10-year fixed rates are now as low as 2.79% (an effective rate including cash back) for well-qualified borrowers in Ontario. Outside of Ontario,...

10-Year Fixed Mortgage Rates Fall to Record Low

The Mortgage Report – May 25 Decade Discounts: With rates near perma-lows, according to some, people aren’t exactly lining up to lock in for 10 years. That’s especially true with penalties being so large on 10-year fixed terms, that is, until a mortgage passes its five-year anniversary—at which point the Interest Act limits penalties to three months’ interest. Nevertheless, effective...

Encouraging More 10-year Mortgages

There’s a big chunk of Canadians out there who: Dislike the mortgage renewal process Are risk averse, and Would gladly trade their stodgy old 5-year fixed term for something longer, if the economics made sense. Ten-year mortgages could fit the bill, if the rates weren’t as high. Knowing that, C.D. Howe issued a report last month on how lenders might be able...

10-Year Rates Can’t Close the Gap

The difference between a lender’s cost to lend for 10 years versus five years is near an all-time low. Yet, 10-year rates remain too high to attract much interest. This chart below is one example of how competitive basic 10-year funding costs have become. It shows a long-term view of Canada Mortgage Bond (CMB) yields. Lenders use CMBs to fund insured 5-...

When a 10-Year Mortgage Term Isn’t So Bad

Special to RateSpy, By John Bordignon, Capital Markets Consultant Earlier this year, while calling for innovation in the mortgage industry, Bank of Canada Governor Stephen Poloz discussed the need for mortgages longer than five years. Longer-term mortgages, he explained, would benefit both consumers and the Canadian financial system. Based on volumes to date, Poloz’s comments moved the needle only slightly...

10-Year Fixed Rates Break Record. But Don’t Get One, Says Broker

Ever since decade-long mortgages slipped under 3% for the first time in May, those offering such rates have fielded more inquiries than ever before. And today, we saw another record breaker, with Sigma Mortgage offering the lowest 10-year fixed of all time: 2.89% (details below). But the more interesting aspect may be this: The company who just advertised that rate...