Mortgage Rates...

[izzoblitzo]

Hey everyone, I'm getting a mortgage for the very first time, and I've got a broker working for me. Just wanted to do a little shopping for mortgage rates at the same time, doing my due dilligence and homework before I sign the dotted line.

On average, what's the typical rate these days? I've heard everyone tell me everything from 4.99 to 6.75!

I know it all comes down to what bank you're with, and the terms and all that, but what do you all consider as a fair rate?

I've been looking at all the websites of banks lately, and they seem to have a prime of 6 +/-% it seems.

For all you folks that have a mortgage, if you could give me an idea of what you think is fair, it would help me out quite a bit!! I just wanna make sure my broker is working in my favor and not the bank, because they seem to have allied with a specific bank... it can be a good thing and a bad thing as well!

Thanks in advance!

[mac_82]

https://www.cannex.com/canada/english/

They have all the posted rates.

[Weapon_R]

My broker just gave me these rates today:

5.55 variable closed
5.7 3 yr closed
5.99 5 year closed

[2000Accord]

I just got 5.49 with ATB, but I have been doing business with them for a while now.

[JordanLotoski]

i have a 5 year 5.94%

[sputnik]

Originally posted by 2000Accord
I just got 5.49 with ATB, but I have been doing business with them for a while now.

How recently?

I find it hard to believe that a bank will beat the brokerage rates by 50 basis points just because you have been banking there "a long time".