It depends. Continuous Play: You wouldn’t want to choose a five-year term, for example, if you planned to move or refinance in two years.Your mortgage amount, as a percentage of your home value, is called your “loan-to-value,” or “LTV” as they say in the business.This is a pivotal factor when shopping for mortgage rates. A mortgage is a major financial investment - probably the biggest you’ll ever make. Furthermore, the size of your down payment can impact how much of a mortgage you qualify for. Please ensure your location is correct in order to find the best rates available in your area. Amortization Period: 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 11 Years 12 Years 13 Years 14 Years 15 Years 16 Years 17 Years 18 Years 19 Years 20 Years 21 Years 22 Years 23 Years 24 Years 25 Years 26 Years 27 Years 28 Years 29 Years 30 Years Enter your phone # to speak directly to the lender!

Compare Canadian Mortgage Rates. If your credit isn’t so hot or you can’t prove enough income, you’ll need to deal with a non-prime lender.Keep in mind, the mortgage rates you see here apply to borrowers with average to above-average qualifications only. We’ll talk about that momentarily.In the meantime, let’s have a look at what factors impact mortgage prices in Canada.Before you start comparing mortgage rates, it’s key to remember that the best mortgage rates depend heavily on 10 factors:Mortgages on refinances, for example, usually cost more than mortgages for purchases. RateSpy.com’s proprietary technology scans thousands of mortgage websites multiple times a day so you know exactly where to find the best deals.

An LTV of 95%, for example, will get you a lower rate than an LTV of 80%, even though you have more equity with an 80% LTV mortgage. If the Bank Rate rises then prime rates offered by Canadian banks rise, as do variable mortgage rates.
That’s because lenders like to add “gotchyas” to their mortgage agreements.
Buying a house is one of the biggest purchases you'll ever make – don't make a mistake when choosing your mortgage. “Every single business they have ever loaned to is subject to a massive decline in revenues, and therefore their own revenues are going down because nobody is taking out new business with banks except to extend debt.”The Bank of Canada has cut its overnight interest rate three times this month, bringing the benchmark to 0.25 per cent. Closed mortgages are more popular as they have lower rates, but open mortgages have extra flexibility that you might need. Our mortgage rates are sourced through two methods: Mortgage brokers can log into our platform and update their rates instantaneously; and we source rates from Canadian bank websites to ensure the rates are current. The renewal date is the date on which the term of mortgage expires, not to be confused with the The rate hold clause refers to how long before your mortgage renewal date you can lock in the prevailing mortgage rate, should that interest rate be a favourable one. Mortgage Rate Comparison.

Some of the most competitive conventional lenders are the new e-banks, which we display in our rate tables.Restricted mortgages (a.k.a. We’re happy to send users to CanWise because of their great rates, trusted advice, and experienced mortgage team.





Those are for people who put down less than 20% on their home purchase. Hence, for the majority of homeowners, it’s worth the small premium for a “full-featured” mortgageGenerally, not. Ratehub.ca is a great place to start, as we compare the best mortgage rates in Canada from multiple lenders and mortgage brokers. Decade-long fixed mortgages, once the pariah of rate terms, are starting to feel some love.

“Quick close” specials are often limited to 30-day closes.