Tim's Mortgage News / Rates and FAQ's

[TimLacroix]

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@TimLacroix any recent updates? Looking to buy something soon.

Hi jacky- sorry regarding the no reply - I have been locked out of the account for over a month. Now have access. Posting this weeks update.

- - - Updated - - -

Current Rates to Open Week Mar 18, 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 - 4.94% 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 - 5.09% * High Ratio
4 Year Fixed - 5.04% * High Ratio

5 Year Fixed - 4.94% to 5.24% * High Ratio
5 Year Fixed - 5.14% 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Call or PM for MORE "UnPublished" rates or other term information.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]

Current Rates to Open Week Mar 25, 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 - 4.79% 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 - 4.79% to 5.14% * High Ratio
5 Year Fixed - 5.14% 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Call or PM for MORE "UnPublished" rates or other term information.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]

Current Rates to Open Week April 1, 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 - 4.79% 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 - 4.79% to 5.14% * High Ratio
5 Year Fixed - 5.14% 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]

Current Rates to Open Week April 8, 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 - 4.79% 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 - 4.79% to 5.14% * High Ratio
5 Year Fixed - 5.14% 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]

Current Rates to Open Week April 15, 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 5.14% * High Ratio
5 Year Fixed - 5.14% 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]

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]

Current Rates to Open Week April 29, 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]

Current Rates to Open Week May 6, 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]

Bump - no change to rates - week of May 20 2024

[TimLacroix]

Bump - no change to rates - week of May 20 2024

However, there is pressure in the bond yields this week... that may suggest some changes to fixed rates depending on persistent pressure?

Click to see: Canada 5-Year Bond Yield

[TimLacroix]

Current Rates to Open Week June 3, 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 - 4.79% 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]

Current Rates to Open Week June 10, 2024

Prime Rate - 6.95%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 6.00% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.64% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 5.95% 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 - 5.89% * High Ratio
3 Year Fixed - 4.89% * High Ratio
4 Year Fixed - 5.99% * High Ratio

5 Year Fixed - 4.64% to 5.19% * High Ratio
5 Year Fixed - 5.19% to 5.34% * Conventional

5 Year ARM/VRM - 5.95% - 6.65%

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]

No change in rates from June 10

[TimLacroix]

Current Rates to Open Week July 8, 2024

Prime Rate - 6.95%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 6.00% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.59% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 5.95% 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 - 5.89% * High Ratio
3 Year Fixed - 4.89% * High Ratio
4 Year Fixed - 4.94% * High Ratio

5 Year Fixed - 4.64% to 5.19% * High Ratio
5 Year Fixed - 4.99% to 5.34% * Conventional

5 Year ARM/VRM - 5.95% - 6.65%

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]

Current Rates to Open Week July 15, 2024

Prime Rate - 6.95%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 6.00% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.59% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 5.95% 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 - 5.89% * High Ratio
3 Year Fixed - 4.89% * High Ratio
4 Year Fixed - 4.94% * High Ratio

5 Year Fixed - 4.64% to 5.19% * High Ratio
5 Year Fixed - 4.99% to 5.34% * Conventional

5 Year ARM/VRM - 5.95% - 6.65%

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]

Current Rates to Open Week Aug 19, 2024

Prime Rate - 6.70%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 6.00% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.59% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 5.60% 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 - 5.19% * High Ratio
3 Year Fixed - 4.84% * High Ratio
4 Year Fixed - 4.69% * High Ratio

5 Year Fixed - 4.59% to 4.99% * High Ratio
5 Year Fixed - 4.84% to 5.34% * Conventional

5 Year ARM/VRM - 5.65% - 6.20%

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]

Current Rates to Open Week Sept 3, 2024

Prime Rate - 6.70%

PROMOTIONS

PROMO 1 --> 3 Year ARM/VRM - 5.85% High Ratio Purchase, Switch Only, Owner Occupied, 90 Days to Close (some restrictions)

PROMO 2 --> 5 Year Fixed - 4.44% High Ratio Purchase, Switch Only, Owner Occupied, 120 Days to Close (some restrictions)

PROMO 3 --> 5 Year ARM/VRM - 5.55% 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 - 5.19% * High Ratio
3 Year Fixed - 4.69% * High Ratio
4 Year Fixed - 4.69% * High Ratio

5 Year Fixed - 4.39% to 4.69% * High Ratio
5 Year Fixed - 4.74% to 5.04% * Conventional

5 Year ARM/VRM - 5.55% - 6.05%

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

[ee2k]

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Current Rates to Open Week Sept 3, 2024

5 Year Fixed - 4.74% to 5.04% * Conventional

5 Year ARM/VRM - 5.55% - 6.05%

What would a sound strategy be for someone that is comparing a 5 year fixed conventional vs a 5 year VAR given the span between the two? Is this a time to bet on VAR betting on the reduction of Bank of Canada rates, or would going with a 5 year fixed be the way to go? It's for a new mortgage, with intent of paying off in 10 years (but not expecting a lot to go into it in first 5 years).

[ExtraSlow]

Rate is not hte only consideration. Variable are more flexible to pay out early etc. Talk to your broker about your specific situation.

[ercchry]

I think VRM/ARM is only good for trying to “time the market” as you have lesser penalty to break… ie. you want a 5yr fixed in 2-3yrs when rates are lower (if they are).

The delta is so huge right now between fixed and variable that rates would have to plummet rather quickly to come out ahead.

I think if this is the thought process, depending on how “conventional” the mortgage is (20% down vs 35% down) you could potentially get those high ratio rates on a 3yr (if 35% down) and call it a day.