Our Lenders

                                                                            MORTGAGE RATES: January 12, 2023

Current Variable Mortgage Rate is 5.55%
Current Prime Rate is 6.45%  

Variable Rate Closed6.45%5.55%
1 Year Closed6.19%5.69%
2 Year Closed6.34%5.99%
3 Year Closed6.24%4.99%
4 Year Closed6.24%4.89%
5 Year Closed6.34%4.74% **
5 Year Closed6.34%5.69% ***

* Rates may vary provincially and are subject to change without notice OAC – Qualifying Benchmark Rate is contract rate plus 2.00% **Insured / ***Conventional

New Rules for January 2018

Home buyers with a down payment of 20% or more will now be subject to stricter qualifying criteria (also known as a “stress test”) that would determine whether a homebuyer would be able to afford their principal and interest payments should interest rates increase. This stress test would use either the 5-year benchmark rate published by the Bank of Canada or the customer’s contract mortgage interest rate plus 2%, whichever is the higher.


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