Tim's Mortgage News / Rates and FAQ's

[TimLacroix]

Current Rates to Open Week Nov 20, 2017

Prime Rate - 3.20%

Special Rate Offers

5 Year Fixed - 2.74% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.01% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.79%
3 Year Fixed - 2.84%
4 Year Fixed - 2.89% * Matures March 1st, 2022
5 Year Fixed - 2.94%
5 Year Fixed - 3.04% to 3.29% * Conventional Purchases

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.30% - 2.70%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.39% - 3.49%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.29%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.34%

Call or PM for MORE "UnPublished" rates or other term information.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 Jan 1, 2018

Prime Rate - 3.20%

Special Rate Offers

5 Year Fixed - 2.79% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 1.95% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.79%
3 Year Fixed - 2.84%
4 Year Fixed - 2.99%
5 Year Fixed - 2.94% to 3.09% * High Ratio
5 Year Fixed - 3.04% to 3.34% * Conventional

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.30% - 2.70%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.34% - 3.44%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.29%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.34%

Call or PM for MORE "UnPublished" rates or other term information.

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

[Disoblige]

Strong jobs report, high chance of rate hike next week

[HiTempguy1]

I feel pretty good about my fixed 2.54% for 5 years right now. With another rate increase, even the lowest variable will be pretty close to that (except for one or two that seem exceptionally low and probably have a lot of restrictions).

[civicHB]

Tim do you have updated rates that factor in today's rate hike? thanks,

[TimLacroix]

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Tim do you have updated rates that factor in today's rate hike? thanks,

It is likely the lenders will increase their Prime rate by 0.25% in the next few days or week. We could see discounts change as well but won't know until lenders start making the changes of the next week or so.

Currently we are seeing rate discounts off of Prime of -0.50% to -1.19%. The larger discounts are for High Ratio purchases or transfers and the lower ones are for conventional mortgages.

[TimLacroix]

Current Rates to Open Week Jan 15, 2018

Prime Rate - 3.20%

Special Rate Offers

5 Year Fixed - 2.99% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.01% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 2.99% to 3.19% * High Ratio
5 Year Fixed - 3.19% to 3.49% * Conventional

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.20% - 2.70%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.54%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.29%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.64% - 3.74%

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 Jan 29, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 2.99% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.26% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 2.99% to 3.19% * High Ratio
5 Year Fixed - 3.19% to 3.49% * Conventional

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.50% - 2.95%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.54%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.64% - 3.74%

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

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

- - - Updated - - -

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Pressure for Rates to Increase

The 5-year bond has surpassed 2.10% and could trigger another fixed rate increase. It currently is sitting at 2.148%.

https://ca.investing.com/rates-bonds...ear-bond-yield

[TimLacroix]

Current Rates to Open Week Feb 12, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.04% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.26% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.29%
4 Year Fixed - 3.24%
5 Year Fixed - 3.04% to 3.24% * High Ratio
5 Year Fixed - 3.24% to 3.49% * Conventional

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.50% - 2.95%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.54%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.64% - 3.74%

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

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

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Heads Up !!

Canada 5-Year Bond Yield has risen again and pressure for fixed rates to rise. Note we have seen a lender increase 5-year fixed by 0.15bps today.

We can protect rates up to 120-days on purchases, renewals and refinances.

[TimLacroix]

Current Rates to Open Week Feb 19, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.04% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.21% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 3.04% to 3.24% * High Ratio
5 Year Fixed - 3.24% to 3.49% * Conventional

3 Year + ARM - 2.65%
5 Year ARM/VRM - 2.50% - 2.85%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.64%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 3.84%

Rental Rates
5 Year Fixed - 3.64% - 3.89%

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 March 19, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.04% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.21% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 3.04% to 3.24% * High Ratio
5 Year Fixed - 3.24% to 3.49% * Conventional

3 Year + ARM - 2.90%
5 Year ARM/VRM - 2.50% - 2.85%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.64%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 4.10%

Rental Rates
5 Year Fixed - 3.64% - 3.89%

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 April 2, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.04% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.21% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 3.04% to 3.24% * High Ratio
5 Year Fixed - 3.24% to 3.49% * Conventional

3 Year + ARM - 2.90%
5 Year ARM/VRM - 2.50% - 2.85%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.49% - 3.64%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 4.10%

Rental Rates
5 Year Fixed - 3.64% - 3.89%

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

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

[dj_rice]

I'm up for renewal in July. Is it true, for renewals, banks don't do a 90-120 day rate hold protection? I'm with RBC, and all I could get for a 2 year mortgage was 3.09

Things have certainly gone up since I signed 5 years ago @ 2.79

I'm new to this renewal thing. Do I sign now? Or do I wait till renewal date and sign?

[TimLacroix]

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I'm up for renewal in July. Is it true, for renewals, banks don't do a 90-120 day rate hold protection? I'm with RBC, and all I could get for a 2 year mortgage was 3.09

Things have certainly gone up since I signed 5 years ago @ 2.79

I'm new to this renewal thing. Do I sign now? Or do I wait till renewal date and sign?

Good morning dj_rise...

Each lender has different rate holds and RBC is 90 days and in some cases, they will reach out to you for an early renewal. Do you sign now? There is no rush to to sign as the market is a little flat right now and pressure on rates have subsided for the moment.

There are a few questions to consider before signing with RBC or any other lender. If you have a few minutes, I am free for a chat to review options (403-648-1541). Or we can chat by PM?

[TimLacroix]

Current Rates to Open Week May 7, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.19% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.21% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 2.94%
3 Year Fixed - 3.09%
4 Year Fixed - 3.24%
5 Year Fixed - 3.19% to 3.24% * High Ratio
5 Year Fixed - 3.54% to 3.74% * Conventional

3 Year + ARM - 2.90%
5 Year ARM/VRM - 2.50%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.64% - 3.89%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.34%
5 Year Fixed - 12 Month Rate Hold - 4.10%

Rental Rates
5 Year Fixed - 3.79% - 3.89%

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

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

[dj_rice]

What are the rates lately? Any changes?

[TimLacroix]

Current Rates to Open Week June 25, 2018

Prime Rate - 3.45%

Special Rate Offers

5 Year Fixed - 3.14% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.21% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 3.24%
3 Year Fixed - 3.44%
4 Year Fixed - 3.49%
5 Year Fixed - 3.24% to 3.34% * High Ratio
5 Year Fixed - 3.34% to 3.74% * Conventional

3 Year + ARM - 2.90%
5 Year ARM/VRM - 2.55%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.69% - 3.89%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.54%
5 Year Fixed - 12 Month Rate Hold - 4.10%

Rental Rates
5 Year Fixed - 3.74% - 3.89%

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

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

- - - Updated - - -

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What are the rates lately? Any changes?

Very little change to the 5-year... the shorter terms have increased a little. Just posted them for the week. PM me if you have specific questions... have a great day!

[TimLacroix]

Current Rates to Open Week July 23, 2018

Prime Rate - 3.70%

Special Rate Offers

5 Year Fixed - 3.24% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

5 Year ARM/VRM - 2.46% High Ratio Purchase or Switch Only, Owner Occupied, Close in 90 days (some restrictions)

Full Feature Rates -- 90 to 120 day rate protection
Starting at:
2 Year Fixed - 3.24%
3 Year Fixed - 3.44%
4 Year Fixed - 3.49%
5 Year Fixed - 3.24% to 3.34% * High Ratio
5 Year Fixed - 3.34% to 3.74% * Conventional

3 Year + ARM - 3.15%
5 Year ARM/VRM - 2.75%

HELOC Rates Prime +0.50%

Refinance Rates
5 Year Fixed - 3.69% - 3.89%

Builder - New Home Mortgage Rates
5 Year Fixed - 6 Month Rate Hold - 3.69%
5 Year Fixed - 12 Month Rate Hold - 4.29%

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

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

[dj_rice]

Is there such thing as 1-2 Year AVM? Or is it always locked in 5 years

[TimLacroix]

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Is there such thing as 1-2 Year AVM? Or is it always locked in 5 years

It is not common for lenders to have 1 or 2 year rates. However some lenders do offer but currently are higher effect rates, above 4%... starting at 4.20%.

The most common variable rate term is 5-years that carries the lowest discount off of Prime... is the closed term. The 5-year OPEN term has a Prime + premium so likely in high 4% range.