Tag Archive: hot rates


A New Low for 5-year Refinance Rates

—The Mortgage Report: Sept. 15— Never before has Canada seen an uninsured 5-year fixed nationally advertised for 1.84%. But on Tuesday we saw it, courtesy of Tangerine. At 1.84%, Tangerine’s rate is now just 4 basis points above the lowest nationally advertised uninsured variable rate. As usual, you’ll find even lower default-insured and insurable 5-year fixed offers if you shop...

Canada’s Newest Fixed-rate Record: 1.39%

—The Mortgage Report: Aug. 27— Closer to Free Money Never on record has a fixed-mortgage contract rate undershot 1.40% in Canada, until Thursday. This one-year fixed offer launched exclusively on RateSpy.com and it’s one more sign of the times. A sign that markets expect no significant boost in rates for as far as the eye can see. Just 18 months...

A New Frontier for Fixed Mortgage Rates

—The Mortgage Report: Aug 21— Boldly Going Where No 5-Year Fixed Rate Has Gone Before For the first time, pricing on Canada’s most in-demand term is now effectively as low as 1.59%. That’s for default-insured 5-year fixed mortgages in Ontario. Consider that just 18 months ago rates were double what we see today. On the uninsured side, we’re getting multiple...

New 1-Year Fixed Rate: Lowest Since 2016

—The Mortgage Report: June 22— Just the Latest Head-Turning Rate: What would a week be without a new low in mortgage rates? The latest term to wear the low-rate crown is the 1-year fixed, thanks to a new promo available through deep-discount brokers. Priced at 1.69%, it’s the cheapest effective rate on a 12-month mortgage since 2016. It’s also officially...

1.99% HSBC Mortgage Rate Special

The spring mortgage market just got another boost. HSBC has unveiled a brand new 1.99% 3-year fixed that is now the lowest mortgage rate in Canada. It’s for default-insured (“high-ratio”) mortgages only, but it’s spectacular nonetheless. The last time the bank had a rate this low was July 2017 on a 5-year variable. “We are responsive to the market, which...

Should You Bite on this 3.30% HISA Rate?

Savings account rates are not usually our playground. But when a bank launches a savings rate that’s 43 basis points above the typical 5-year fixed mortgage rate, it’s worth a comment. Laurentian Bank of Canada (LBC) is the party in question. It has a new eye-catching 3.30% high-interest savings account (HISA) rate with no regular fees or strings attached. Here are...