Tag Archive: scotiabank


New Tool for Monitoring Mortgage Rates

“What’s the lowest rate?” is one of those questions you can’t answer with one number. There are just too many factors that determine the rate someone pays. You have to ask more questions, like: How much equity do you have? Are you purchasing a home, refinancing, or just switching lenders? What term do you prefer? What province are you in?...

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Weekend Rate Cuts

—The Mortgage Report: Aug. 16— HSBC Cuts HSBC slashed a bunch of key rates going into the weekend, setting record lows on a variety of terms. That included reductions to these special fixed rates: 3yr: 2.19% to 1.99% Canada’s lowest-ever 3yr refi rate 5yr: 2.09% to 1.96% Canada’s lowest-ever 5yr refi rate 5yr (high ratio): 1.89% to 1.76% Canada’s lowest-ever...

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Invest or Prepay Your Mortgage?

—The Mortgage Report: July 9— Play Stocks or Play it Safe?: That’s a common question for otherwise debt-free mortgagors with nothing else to do with their money. It’s not a question we can answer for everyone, given all the personal variables to consider. But here’s an interesting look at what might have happened had you got a standard mortgage 10...

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The Stress Test Rate Drops Further

The Mortgage Report – May 16 Now to 4.94%: Scotiabank trimmed its posted 5-year fixed rate to 4.94% on Saturday. That puts the mode average of the Big 6 Banks’ 5-year posted rates—and hence the minimum stress test rate—at 4.94%. Of note: This is the lowest the stress test rate has been since October 2017 The all-time low was 4.64%,...

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Scotia’s eHOME Pre-Approval Leads the Big Six

Most big banks now have online mortgage pre-approvals. No news there. But three decades following the invention of the world wide web, big banks still don’t let you get a mortgage: on virtually any smartphone, tablet or computer without ever speaking to a banker with an instant credit check with automated screening of your application data with an industry-leading, fully...

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Checking In on Scotiabank’s eHOME Mortgage

When Scotiabank launched its eHOME Mortgage in March, it promised a faster, easier way to get a big-bank mortgage, with compelling rates to boot. Since then, industry-types have watched and wondered if eHOME would get much traction. It has. “When we built Scotiabank eHOME, we set out to create a unique mortgage experience for our customers, focused on simplicity, security, transparency...

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Scotiabank Introduces Lowest 4-year Fixed Rate Since 2017

Canada’s third-largest bank has an alluring new 4-year fixed rate. It’s the nation’s lowest 4-year fixed since December 2017. But that’s not the most interesting part. This marks the first time in our recollection that a major bank has widely advertised an online-only special and the industry’s best-discounted rate. It’s somewhat of a milestone in rate transparency, one inspired by consumers’...

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