Our Lenders

                                                                                MORTGAGE RATES: February 01, 2021

Current Variable Mortgage Rate is 1.65%
Current Prime Rate is 2.45%  

Variable Rate Closed2.45%1.65%
1 Year Closed3.59%1.64%
2 Year Closed3.69%1.79%
3 Year Closed3.94%1.54%
4 Year Closed4.59%1.99%
5 Year Closed4.99%1.69% **
5 Year Closed4.99%1.79% ***

* Rates may vary provincially and are subject to change without notice OAC – Qualifying Benchmark Rate 4.79% **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 mortgage interest rate plus 2%, whichever is the higher.


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