Tag Archive: scotiabank


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...

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...

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%,...

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...

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...

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’...