Tim's Mortgage News / Rates and FAQ's

[TimLacroix]

Current Rates to Open Week April 22, 2024

Prime Rate - 7.20%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 6.25% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.84% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 6.20% High Ratio Purchase, Owner Occupied, 90-120 Days to Close (some restrictions)

-------

Full Feature Rates up to 120 day rate protection
Starting at:

2 Year Fixed - 5.94% * High Ratio
3 Year Fixed - 4.99% * High Ratio
4 Year Fixed - 5.04% * High Ratio

5 Year Fixed - 4.84% to 5.19% * High Ratio
5 Year Fixed - 5.19% to 5.34% * Conventional

5 Year ARM/VRM - 6.15% - 6.90%

HELOC Rates Prime +0.00 to +0.50%%

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Some common frequently asked questions:

1. Buying a home with 5% down - The 5% down payment guideline does not apply to just First Time Home Buyers. It is to anyone and everyone buying a Owner Occupied/ Principal Residence.

2. CMHC, Genworth, Canada Guarantee - to avoid these premiums (Default Insurance) being added to your mortgage, 20% down payment (equity) is required.

3. Maternity Income - Full salaried income for someone on maternity can be used for mortgage qualifying. Letter of employment is needed confirming annual salary amount and position is available for your return after maternity is over.

4. Amortization - note that currently 30 and 35 year amortizations are still available on conventional mortgages only. This means that there is minimum 20% down payment or equity in the property.

5. Self Employed - this is a big area but will highlight income and down payment.
Option 1 - Verified Income - Can purchase with 5% down payment. Income used is 2 years NOA average.

Option 2 - Stated Income - Can purchase with 10% down payment. Income is declared based on a reasonability test for the type of job, industry, etc.

Self Employed--- it is never too early to start talking and planning with a mortgage professional. The sooner the better so that you understand all options and details.

[TimLacroix]

Current Rates to Open Week Feb 3, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.09%*
5 Year Fixed - 3.19%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week Feb 10, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

[nickyh]

I'm just curious, what are 7 and 10 fixed rates?

I need to renew next Jan so i'm wondering when i should seriously start looking for a new rate.

[TimLacroix]

Originally posted by nickyh
I'm just curious, what are 7 and 10 fixed rates?

I need to renew next Jan so i'm wondering when i should seriously start looking for a new rate.

Typically we start the renewal process 7 months out from maturity date. We start the process this early to review your needs and run through scenarios and options.

We have the ability with limited lender(s) to hold rates 180 days prior to maturity at a slightly higher rate. However, this gives you some protection and worse case option -- if rates were to rise.

Below are 2 rates (current) with different rate holds:

120 day Rate Hold
7 Year @ 3.99%
10 Year @ 4.39

180 day Rate Hold
7 Year @ 4.44%
10 Year @ 4.74

July would be a good time to start considering renewal options. We would be happy to discuss the 7 & 10 rates with you at that time but also review other options that might save you extra $$$$.

[Darkane]

Tim curious about an open variable. Any info there?

[TimLacroix]

Originally posted by Darkane
Tim curious about an open variable. Any info there?

There are 2 OPEN variable products worth noting, the others are much higher rate wise.

5 Year OPEN Mortgage @ Prime + 0.80%

HELOC @ Prime + 0.50%
NOTE: Prime = 3.00%

There is special HELOC pricing @ Prime, available for Engineers (P.ENG), Medical Professionals...

[Darkane]

Thanks Tim. It's amazing how much the open variable has changed In 5 years. I had a prime -.5 from scotia as an open. Can't get that anymore lol

[nickyh]

Originally posted by TimLacroix


July would be a good time to start considering renewal options. We would be happy to discuss the 7 & 10 rates with you at that time but also review other options that might save you extra $$$$.

July lines up perfectly with the timeline i had in mind.
I like the 5 year rate option, my husband was looking at a longer time frame so that was more for him than me, thanks for posting them though.

[TimLacroix]

Originally posted by Darkane
Thanks Tim. It's amazing how much the open variable has changed In 5 years. I had a prime -.5 from scotia as an open. Can't get that anymore lol

Yeah… the Variable OPENs have changed quite a bit. Not as attractive anymore for them. The CLOSED variables have changed as well but are starting to come back… especially with the spread between Variable and Fixed 5 years.

[TimLacroix]

Originally posted by nickyh


July lines up perfectly with the timeline i had in mind.
I like the 5 year rate option, my husband was looking at a longer time frame so that was more for him than me, thanks for posting them though.

Your welcome… the 5 year rates for 120 and 180 days are not bad but as I mentioned… there are some strategies that can help you save $$$ regardless of term or rate you take.

[TimLacroix]

Did you know, you can be a First Time Home Buyer again?

Yes that is correct, you are considered a First Time Home Buyer again if you have not owned a home in the last 5 years.

The benefit for some is the ability to withdraw from their RRSP (up to $25,000) for a down payment.

Keep in mind that if you have already withdrawn from RRSP's before, the amount must already be paid back before withdrawing again.

IMPORTANT: If you are living with a boyfriend or girlfriend in a home that they own… and then you both decide to buy together… you are NOT considered a First Time Home Buyer if you buy together.

If you have questions… please ask away!

[TimLacroix]

Current Rates to Open Week Feb 17, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

[JordanLotoski]

Good to see the 5 year rate is down a bit:thumbsup:

[pheoxs]

Any update? Looks like somewhere in ontario is now offering 2.99 5yr fixed. Looks like things are gradually creepy downwards

http://www.cbc.ca/m/news/#!/content/1.2546527

[TimLacroix]

Originally posted by pheoxs
Any update? Looks like somewhere in ontario is now offering 2.99 5yr fixed. Looks like things are gradually creepy downwards

http://www.cbc.ca/m/news/#!/content/1.2546527

Hi Phoexs...

Not in Alberta... no 2.99% yet. The lender is a credit union in Ontario and currently is not offering these rates through brokers (yet)... just through the credit union directly.

There is pressure for rates to stay where they are... not to drop much lower than where they are now. Cheers.

[TimLacroix]

Current Rates to Open Week Feb 24, 2014

3 Year Fixed - 2.89%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.15%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week Mar 3, 2014

3 Year Fixed - 2.79%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.09%**

Starting at:
4 Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

If there are other rates that you are interested in, please post and I will respond.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[fayzed]

Purely for selfish reasons but if you could just update the current rates and date in the first post it saves from scrolling ;)

[TimLacroix]

Originally posted by fayzed
Purely for selfish reasons but if you could just update the current rates and date in the first post it saves from scrolling ;)

Consider it done... I was thinking about doing that as well. Thanks for the feedback.

[ExtraSlow]

Thanks Tim, that's easier. This way I see the updates as soon as the thread opens, and I can process that for a couple of seconds while the "first unread post" is loading.

[TimLacroix]

Originally posted by ExtraSlow
Thanks Tim, that's easier. This way I see the updates as soon as the thread opens, and I can process that for a couple of seconds while the "first unread post" is loading.

You're welcome. So does it make sense to still post at the end or just at the top of the thread?

I am still working out the kinks and understanding how the threads work. Thanks again for the feedback.

[pheoxs]

Originally posted by TimLacroix


You're welcome. So does it make sense to still post at the end or just at the top of the thread?

I am still working out the kinks and understanding how the threads work. Thanks again for the feedback.

I'd appreciate posting it in the newest comment as you were, then just updating the original post with the latest.

Then it bumps the thread, as well as lets people look back to see what interest rates are doing (like seeing the last few weeks are stable or rising or falling etc) but still has the latest in the original post.

[TimLacroix]

:thumbsup:

Thanks for the feedback everyone... if there is anything else...

Please let me know.

[ExtraSlow]

My two cents, which isn't even worth a nickel these days with the rounding, is this:
Write your update, include the date, post it as a new post, and cut and paste it into the first post as well. Any commentary probably belongs in the newest post.

[TimLacroix]

Current Rates to Open Week Mar 10, 2014

3 Year Fixed - 2.79%

Starting at:
5 Year Fixed - 3.04%*
5 Year Fixed - 3.09%**

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

Call or PM for "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week Mar 17, 2014

2 Year Fixed - 2.54%
3 Year Fixed - 2.74%
4 Year Fixed - 2.97%

Starting at:
5 Year Fixed - 2.94%*
5 Year Fixed - 3.09%**

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

Call or PM for "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week Mar 24, 2014

2 Year Fixed - 2.54%
3 Year Fixed - 2.74%
4 Year Fixed - 2.87%

Starting at:
5 Year Fixed - 2.94%*
5 Year Fixed - 3.04%**

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM - 2.50%
5 Year VRM - 2.35%****

Call or PM for "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 45 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Wow...

4 Year Fixed dropped to 2.87% !! !!

[TimLacroix]

Another rate update coming.. waiting for the dust to settle. Will have update tomorrow before the weekend.

Be careful of the low low advertised rates. Don't get suckered into some of the low low rates as the restrictions may not be worth it.

It is best to discuss your needs and determine a full solution/ product that includes a rate.

[TimLacroix]

Current Rates to Open Week March 31 - April 4, 2014

2 Year Fixed - 2.54%
3 Year Fixed - 2.74%
4 Year Fixed - 2.87%

Starting at:
5 Year Fixed - 2.84%*
5 Year Fixed - 2.99%**
5 Year Fixed - 3.09% Pre-Approvals and 120 Day Holds

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM/VRM - 2.50%
5 Year VRM - 2.35%****

Call or PM for MORE "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week April 7, 2014

2 Year Fixed - 2.54%
3 Year Fixed - 2.74%
4 Year Fixed - 2.87%

Starting at:
5 Year Fixed - 2.84%*
5 Year Fixed - 2.99%**
5 Year Fixed - 3.09% Pre-Approvals and 120 Day Holds

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM/VRM - 2.50%
5 Year VRM - 2.35%****

Call or PM for MORE "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week April 14, 2014

2 Year Fixed - 2.54%
3 Year Fixed - 2.74%
4 Year Fixed - 2.87%

Starting at:
5 Year Fixed - 2.84%*
5 Year Fixed - 2.99%**
5 Year Fixed - 3.09% Pre-Approvals and 120 Day Holds

Starting at:
3+ Year ARM - 2.45%***
5 Year ARM/VRM - 2.50%
5 Year VRM - 2.35%****

Call or PM for MORE "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week May 12, 2014

3 Year Fixed - 2.74%
4 Year Fixed - 2.87%

Starting at:
5 Year Fixed - 2.84%*
5 Year Fixed - 2.99%**
5 Year Fixed - 3.09% Pre-Approvals and 120 Day Holds

Starting at:
3+ Year ARM - 2.45% to 2.40%***
5 Year ARM/VRM - 2.50% to 2.45%
5 Year VRM - 2.35%****

Call or PM for MORE "UnPublished" rates or other term information.

* Restrictions Apply - Call or PM for details
** 30 day quick close
** Matures Nov 30, 2017 (not quite 4 year term)
*** Restrictions Apply - Call or PM for details

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week June 2, 2014

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.74%
4 Year Fixed - 2.77%
5 Year Fixed - 2.97%

3 Year + ARM - 2.45% to 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close

5 Year VRM - 2.30%*

* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week June 9,2014

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.74%
4 Year Fixed - 2.77%
5 Year Fixed - 2.97%

3 Year + ARM - 2.45% to 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close

5 Year VRM - 2.30%*

* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[TimLacroix]

Current Rates to Open Week June 16,2014

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.74%
4 Year Fixed - 2.77%
5 Year Fixed - 2.97%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close

5 Year VRM - 2.30%*

* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[tacsniper]

I just like to thank Tim and his team for their exceptional service! They were able to answer all my questions. Best of all, they were quick to reply with email/phone calls. I highly recommend them for any beyonders looking for a mortgage broker.

-Eric

[TimLacroix]

Originally posted by tacsniper
I just like to thank Tim and his team for their exceptional service! They were able to answer all my questions. Best of all, they were quick to reply with email/phone calls. I highly recommend them for any beyonders looking for a mortgage broker.

-Eric

Thank you Eric. :thumbsup:

Glad to be of assistance and we look forward to your mortgage burning party :clap:

[woodywoodford]

Hey Tim - what are your thoughts on these rumors of a rate increase? Word is inflation surprised the BoC and we may be in for a rate increase...

[TimLacroix]

Originally posted by woodywoodford
Hey Tim - what are your thoughts on these rumors of a rate increase? Word is inflation surprised the BoC and we may be in for a rate increase...

IMO - I think we are still some time away form a rate increase by the Bank of Canada. I also believe that the information that gets relayed (by media) is more of hype to get people over thinking.

The banks and their economists have been doing this every year to get people to jump into pre-approvals and purchases faster than then may be ready!

From a timing perspective... I think we are still a year away from a rate increase, possibly in the spring of next year but likely a little long than that.

If anyone is currently sitting in a variable, I would increase payments based on the current 5 year fixed or higher, depending on personal preference.
NOTE: Take advantage of the current low rates to pay down debt... whether mortgage or other higher interest rate debts.

These rates will not last for ever (been saying this for the past 3 years ... ha ha)... seriously they will go up.

We currently have 2 strategies for managing your mortgage to minimize the impact in rate increases and to pay off your mortgage quicker.

[fajita123]

Hey Tim,
What happens if you were to sell your current home partway into a fixed mortgage, but buy a new home under the same mortgage? Are there any penalties/fees in doing this?

Thanks.

[TimLacroix]

Originally posted by fajita123
Hey Tim,
What happens if you were to sell your current home partway into a fixed mortgage, but buy a new home under the same mortgage? Are there any penalties/fees in doing this?

Thanks.

In this situation you would have the option to port your mortgage to the new property. Note: each lender has a time frame for after the sale occurs to port the mortgage... usually 60, 90 + days on exception longer.

The transactions typically is this:
1- The penalty is applied at closing
2- Once you have secured a new property and the mortgage is ported, the penalty is reimbursed.
3- Fees, there are still normal fees for the closing, same as a purchase (legal, etc...)

For a port, please remember you and the property still need to qualify.

[TimLacroix]

Current Rates to Open Week June 30,2014

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.74%
4 Year Fixed - 2.77%
5 Year Fixed - 2.97%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close

5 Year VRM - 2.30%*

* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

NOTE, rates are for Alberta. Some online rates may be lower but may be available in other provinces ONLY!! If you need rates for other provinces, please call or message.

[austic]

:clap:
Just want to give Kudos to Tim and his team. I know my deal had a lot more hiccups then most but Tim was always quick to answer my calls and went above and beyond to ensure we took possession when got possession when we were supposed to. My purchasing law firm even commented that he was quick and good at getting them what they needed.
I would not hesitate recommending him to anyone that needs a mortgage broker.

Cody
:clap:

[TimLacroix]

Current Rates to Open Week July 7,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

2 Year - 2.34%
Available for qualified applications submitted before July 21st, 2014.

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.74%
5 Year Fixed - 2.97%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.30%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week July 14,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

2 Year - 2.34%
Available for qualified applications submitted before July 21st, 2014.

3 Year - 2.59%
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
5 Year Fixed - 2.97%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.30%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week July 21,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
5 Year Fixed - 2.97%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.30%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week August 4,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.45% to 2.40%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.30%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week August 18,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

2 Year - 2.34% (120 day rate protection)

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.79%* 30 day quick close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

NEW Rate Announcement

2 Year Fixed at 2.34%... with 120 rate protection.

Owner Occupied and Rental Properties.

[TimLacroix]

Current Rates to Open Week September 2,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

2 Year - 2.34% (120 day rate protection)

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.79%* 30 day quick close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[Cos]

.

[TimLacroix]

Current Rates to Open Week September 15,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

2 Year - 2.34% (120 day rate protection)

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.79%* 30 day quick close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week September 22,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.40% - Renewal Nov 2017
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week October 6,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.30%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* 30 day quick close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week October 20,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* Quick Close
5 Year VRM - 2.25%*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week October 27,2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* Quick Close
5 Year VRM - 2.25*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week November 3, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.84%* Quick Close
5 Year VRM - 2.25*
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week November 17, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week November 24, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week December 1, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.40% to 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[Bowen]

Just wanted to give Tim a positive review for our recent home purchase. Tim and his team were professional throughout the whole process. We were pre-approved within minutes and closer to possession was a breeze. The lawyer had even commented on how unusually fast the documents were prepared in advance.

Tim was available to answer any questions I had no matter the time of day and I would not hesitate to refer him to anyone I know.

Thanks Tim!

[TimLacroix]

Originally posted by Bowen
Just wanted to give Tim a positive review for our recent home purchase. Tim and his team were professional throughout the whole process. We were pre-approved within minutes and closer to possession was a breeze. The lawyer had even commented on how unusually fast the documents were prepared in advance.

Tim was available to answer any questions I had no matter the time of day and I would not hesitate to refer him to anyone I know.

Thanks Tim!

Thank you Bowen! Glad that you and Kim will be in you NEW home for the holidays. Have a great Christmas and New Year! ~Tim

[G]

I too recently used Tim for my mortgage needs. After being out of the mortgage game for a few years I was unsure what to look for. Tim provided us great service and knowledge on all the offerings out there. Possession date was smooth as can be. His whole team is on top of it all the time.

[Mitsu3000gt]

I just used Tim to renew my mortgage as well. He got me a great rate (better than expected), and was patient with my disorganized approach and endless questions. Good communication throughout, he was knowledgeable, and I would highly recommend him to anyone else looking to renew or obtain a new mortgage :thumbsup:.

I should also add that I contacted him on very short notice (about a week before my renewal) and he went out of his way to make it work.

[TimLacroix]

Originally posted by G
I too recently used Tim for my mortgage needs. After being out of the mortgage game for a few years I was unsure what to look for. Tim provided us great service and knowledge on all the offerings out there. Possession date was smooth as can be. His whole team is on top of it all the time.



Originally posted by Mitsu3000gt
I just used Tim to renew my mortgage as well. He got me a great rate (better than expected), and was patient with my disorganized approach and endless questions. Good communication throughout, he was knowledgeable, and I would highly recommend him to anyone else looking to renew or obtain a new mortgage :thumbsup:.

I should also add that I contacted him on very short notice (about a week before my renewal) and he went out of his way to make it work.

Thank you G & Mitsu3000gt for the review. Glad to hear that we were able to be a part of your home financing needs! Thank you and Welcome Home! ~Tim and team!

[ducaudi]

Tim and Krista were super helpful, were with me every step of the way. They stayed in contact with me when anything came up and helped ensure everything went smoothly when I took possession. Many thanks and gratitude to Tim and Krista!

[TimLacroix]

Originally posted by ducaudi
Tim and Krista were super helpful, were with me every step of the way. They stayed in contact with me when anything came up and helped ensure everything went smoothly when I took possession. Many thanks and gratitude to Tim and Krista!

:thumbsup: Thank you ducaudi for the great review. Feedback is always appreciated... :thumbsup:

[gwill]

Tim: I am curious why brokers are only advertising the 5 yr fixed at 2.89 when there are easily better rates out there. I mentioned on another thread about scotia bank messing around with my rate so i went elsewhere and was given less then the 2.89 your advertising.

Do you guys have restrictions on openly advertising different rates? I know my inbox is still getting hit from different lenders and they also only advertise the 2.89 5 yr fixed and nothing better.

[w_man]

I must have forgotten to come in here and leave a quick Thank You for Tim.

Earlier this year I contacted Tim for some advice on a renewal of a mortgage on my investment property in Canada, while I'm overseas. He ended up giving me a very honest and straight forward advice - even though his advice was not to purchase mortgage through him.

Great and honest guy!

I'll certainly be forwarding your name to friends and family.

Cheers.

[TimLacroix]

Originally posted by gwill
Tim: I am curious why brokers are only advertising the 5 yr fixed at 2.89 when there are easily better rates out there. I mentioned on another thread about scotia bank messing around with my rate so i went elsewhere and was given less then the 2.89 your advertising.

Do you guys have restrictions on openly advertising different rates? I know my inbox is still getting hit from different lenders and they also only advertise the 2.89 5 yr fixed and nothing better.

Hi gwill, I have also PM'd you!

Thank you for the post and query/ comments! The reason why most brokers post the 2.89% rate is because it comes with full privileges and no restrictions/ conditions (fine print).

NOTE: occasionally, there are lower rates than 2.89% when lenders offer promotional (quick close) rates... and these usually do not have restrictions either... other than the mortgage needs to close with 30-45 days.

As for the other rates that we also advertise, such as 2.74% rates... these however have restrictions/ conditions that sometimes are not worth a consumers time as in the end, the cost is higher. ie: breaking the mortgage, issues with porting, not able to increase, etc... the penalty on these rates are as much as 3% of the mortgage balance.

The other aspect of rate is that NOT ONE RATE fits all!

As part of our due diligence with each client is understanding their needs and potential goals... then discuss the pros and cons of each lender, rate, product, solution...

gwill, please call or PM if you would like to discuss further... ~Tim

[TimLacroix]

Originally posted by w_man
I must have forgotten to come in here and leave a quick Thank You for Tim.

Earlier this year I contacted Tim for some advice on a renewal of a mortgage on my investment property in Canada, while I'm overseas. He ended up giving me a very honest and straight forward advice - even though his advice was not to purchase mortgage through him.

Great and honest guy!

I'll certainly be forwarding your name to friends and family.

Cheers.

Thank you w_man... you are correct, We won't do something just to do it... it has to make sense to you.

[TimLacroix]

Current Rates to Open Week December 8, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week December 15, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week December 22, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

3 Year ARM - 2.25% (Prime - 0.75%)
90 Days - Some restriction apply (call/email for more details)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[A2VR6]

Just wanted to write a quick review on my experience with Tim and Krista. Tim was awesome throughout the whole purchase process and even kept me up to date on everything while he was on vacation!

Tim got me a great rate based on my needs and when we had to clear conditions in less than week, Tim was more than willing to step up to the plate to get it done. He also recommended me a great lawyer to handle the purchase and the sale of home.

[TimLacroix]

Originally posted by A2VR6
Just wanted to write a quick review on my experience with Tim and Krista. Tim was awesome throughout the whole purchase process and even kept me up to date on everything while he was on vacation!

Tim got me a great rate based on my needs and when we had to clear conditions in less than week, Tim was more than willing to step up to the plate to get it done. He also recommended me a great lawyer to handle the purchase and the sale of home.

Thanks for the testimonial "Chris"... hope I figured out the handle... LOL. Hope you guys are enjoying your new home... it was a pleasure to assist you! Merry Christmas... :)

[TimLacroix]

Current Rates to Open Week December 29, 2014 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

3 Year ARM - 2.25% (Prime - 0.75%)
90 Days - Some restriction apply (call/email for more details)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

Current Rates to Open Week January 5, 2015 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.49% (High Ratio only)
Quick Close - Close within 45 days

3 Year ARM - 2.25% (Prime - 0.75%)
90 Days - Some restriction apply (call/email for more details)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.77%
5 Year Fixed - 2.89%

3 Year + ARM - 2.35%
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.84%* Conventional
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional
* Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[FYD524]

Quick review for Tim:
Reached out to him here in November and the process to close was painless.

Like I think most other people do, I prefer services that are efficient and well executed. Tim and his team are responsive, professional, and available to help with questions whenever you need.

Great guy to deal with. Would recommend and use his services again.

- Colin

[TimLacroix]

Originally posted by FYD524
Quick review for Tim:
Reached out to him here in November and the process to close was painless.

Like I think most other people do, I prefer services that are efficient and well executed. Tim and his team are responsive, professional, and available to help with questions whenever you need.

Great guy to deal with. Would recommend and use his services again.

- Colin

Thanks Colin! Very much appreciate the kind words. Hope your family enjoyed the NEW place for the holidays!! Best wishes for 2015!!! ~ Tim & team!

[TimLacroix]

5 Year Bond Yield (http://www.investing.com/rates-bonds/canada-5-year-bond-yield) down again to start the week... currently sitting at 1.175%.

Could see some promotions this week?

If you are looking to buy, refinance or renew (within 6 months)... reach out and we can protect you and monitor for rate/ product opportunities without multiple credit hits.

[TimLacroix]

5 Year Bond Yield (http://www.investing.com/rates-bonds/canada-5-year-bond-yield) is starting the day around 1.179% down from 1.275% a week ago.

Oil is down to $45.38 and the Dollar is up slightly at $0.8373.

Not much movement on rates yet... some small promotions but nothing significant yet.

[TimLacroix]

OUCH! Bond Yield down again !!!!

5 Year Bond Yield (http://www.investing.com/rates-bonds/canada-5-year-bond-yield) is starting the day around 1.094% down from 1.275% a week ago.

Oil is up slightly to $46.46 and the Dollar is sitting at $0.8364.

Interesting times...

[sputnik]

Interesting indeed. My mortgage is up for renewal in June.

[BigMass]

im predicting a rate cut by the end of the year. So long dollar. Buy what you need from the US now.

[TimLacroix]

We get to start the week with some rate and market updates!

5 Year Bond Yield (http://www.investing.com/rates-bonds/canada-5-year-bond-yield) still struggle and are starting the day around 1.072%.

Oil is down slightly to $47.85 and the Dollar is sitting at $0.8350.

Current Rates to Open Week January 19, 2015 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer

3 Year - 2.59% (High Ratio only)
Quick Close - Close within 45 days

3 Year ARM - 2.25% (Prime - 0.75%)
90 Days - Some restriction apply (call/email for more details)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.69%
4 Year Fixed - 2.79%
5 Year Fixed - 2.89%

3 Year + ARM - 2.30% * Maturity is May 2018
5 Year ARM/VRM - 2.35%

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.74%* High Ratio
5 Year Fixed - 2.79%* Conventional & High Ratio
5 Year VRM - 2.20* High Ratio
5 Year VRM - 2.30* Conventional & High Ratio
* Conditions / Restrictions Apply - Call or PM for details

Call or PM for MORE "UnPublished" rates or other term information.

OAC, some terms and conditions may apply, rates subject to change without notice

[TimLacroix]

TD Bank (TSX:TD) was quick to announce Wednesday (http://www.ctvnews.ca/business/mortgage-rates-to-decline-following-rate-cut-economists-1.2199011) it will maintain its prime interest rate at three per cent, noting that factors beyond the central bank influence its rates.

"Not only do we operate in a competitive environment, but our prime rate is influenced by the broader economic environment, and its impact on credit," the bank said in a statement.

** The other banks have not made any announcements yet about what their stand is on PRIME!

Prime is still 3.00%. Stay tuned...

[kaput]

.

[TimLacroix]

Originally posted by kaput
What about other lenders like first national?

These lenders like First National will be holding still as well. They usually follow the banks...

Lenders were not prepared for the 0.25% cut so it will take time before any lenders make a change... if they make a change.

However, there is rumor / speculation that there may be another cut in April / May. Hmm... again I think this is a wait see as everyone has been wrong for quite a while.

If there is another cut then... I would definitely expect a cut to Prime.

Its a bit of a waiting game...

[TimLacroix]

Interesting article about BoC rate and Prime rate, posted in Financial Post (http://business.financialpost.com/2015/01/23/bank-of-canada-could-press-countrys-top-lenders-to-follow-rate-cut/)


The “whole point [of the cut from 1% to 0.75%] was for the banks to follow suit [and] stimulate spending. If they don’t, then the Bank cut the rate for nothing,” a former Finance official who now advises banks told the Financial Post.
Further into the article it mentions that if banks don't cut Prime, BoC may be forced to lower BoC rate again to get the banks to cut Prime


If banks don’t come to the conclusion that they need to cut their lending rates, observers say the Bank of Canada may act again and slash overnight interest rates further.

“I think what you might see, if the banks don’t pass on this cut, is the Bank of Canada will just lower rates again in the spring to force them to do it,” said one banking source.

That view was backed up by research published Friday by Bank of America Merrill Lynch, which noted that the prime lending rate at banks typically moves “in lockstep” with Bank of Canada adjustments.

“In our view, if banks fail to lower the prime rate, [Bank of Canada Governor Stephen] Poloz may be tempted to respond with another dose of policy easing,” economist Emanuella Enenajor wrote in the report
It seems as though it is still a wait and see on whether someone lowers Prime before the next BoC meeting. The next 3 meeting dates are:
4 March
15 April* Monetary Policy Report published
27 May

[roopi]

Pretty ridiculous that when the BOC raises rates with 24 hours the banks have raised their rates but nothing now. More profits for the banks this way I guess.

[blownz]

I agree lol

But I also don't think lowering rates to encourage people to take on more debt is a good idea. Debt is too high already. And people won't use lower rates to help pay off debt, they will use it to load up on more debt. Sure spending money is good for the economy, but the longer the debt loads increase, the worse the correction will be when people finally do have to pay stuff off or rates do increase.

[ExtraSlow]

It's a bit hypocritical for the BOC to be worried about debt levels while holding interest rates low. That's like your drug dealer worrying about your addiction problem.

[TimLacroix]

RBC lowered its Prime rate to 2.85%, effective tomorrow Wednesday... announcement here (http://business.financialpost.com/2015/01/27/rbc-cuts-prime-lending-rate-to-2-85-from-3-after-surprise-bank-of-canada-cut/)!

Stay tuned for others to follow!

[TimLacroix]

Hi Beyonders, its been a busy week and have not had a chance to update rates. They have been changing daily with lenders... will have a full update Monday.

If you have questions or need current information, please PM, call or email. ~Tim

[TimLacroix]

It's an interesting Friday folks.

Canada GDP shrinks on biggest factory drop in six years (http://business.financialpost.com/2015/01/30/canada-gdp-falls-0-2-below-economists-expectations/)

Loonie tumbles this morning again to $0.7848.

Oil is up slightly to $45.43 but as we have all seen, gas at the pump is up about 0.10 cents per litre today.

And 5 Year Bond Yield (http://www.investing.com/rates-bonds/canada-5-year-bond-yield) is down again today to 0.629%. Based on this, we should see 5 year fixed rates around 2.20% or so...

I will have a full rate update this weekend... for Monday morning. PM or call if you have questions in the meantime... thank you and have a great weekend everyone!

[TimLacroix]

Current Rates to Open Week February 2, 2015 (http://cgymortgage.com/pages/Calgary+Mortgage+Rates/55)

Special Rate Offer
3 Year ARM - 2.05% (Prime - 0.80%)
90 Days - Some restriction apply (call/email for more details)

5 Year Fixed - 2.74%
Quick Close - Close within 45 days

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
3 Year Fixed - 2.49%
4 Year Fixed - 2.69%
5 Year Fixed - 2.79%

3 Year + ARM - 2.10% * Maturity is May 2018
5 Year ARM/VRM - 2.15%

HELOC Rates Prime +0.25%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 2.84%* High Ratio and Conventional
5 Year Fixed - 12 Month Rate Hold - 3.28%* High Ratio
5 Year Fixed - 12 Month Rate Hold - 3.38%* Conventional

Restricted / Conditions apply Rates
Starting at:
5 Year Fixed - 2.59%* Conventional & High Ratio
5 Year VRM - 2.00%* High Ratio
5 Year VRM - 2.05%* Conventional
* Conditions / Restrictions Apply - Call or PM for details

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OAC, some terms and conditions may apply, rates subject to change without notice