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Mortgage loan

The Bank of Canada’s policy interest rate has changed; how does this affect my variable rate mortgage?

Whenever the Bank of Canada changes its policy rate, it is important to understand that mortgage lenders do not automatically change their prime rate. In fact, a bank’s prime rate may not even...

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Should you renegotiate your mortgage before maturity?

Marc and Isabelle have a $300,000 mortgage with the ABC Bank. They planned to pay off their house in 25 years. They took a loan at a fixed rate of 3.45% on a 5-year term. Two years before the date of...

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CHMC: WHAT IS IT, ANYWAY?

You want to buy a house, but don’t have the required 20% down payment. This is when you are offered the CMHC loan insurance. But what is the CMHC?  Why do we offer this insurance?  Is...

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Becoming a homeowner with an income property - something to think about!

Before buying a house with rent income, you must consider several key points. The Mortgage Planners team invites you to consider both sides of the coin. Advantages An extra, steady income The...

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Buying a home when you’re new to Canada: It’s easier than you think!

Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done. Common myths New...

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Discover CMHC's "Homebuying Step by Step" Guide

Canada Mortgage and Housing Corporation is giving you a guide for everything you need to buy a home in Canada.This workbook provides worksheets, calculators and checklists for each step in the...

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Everything about the house is perfect except for the kitchen. What are my options?

Although the kitchen, the bathrooms as well as the floors are rarely to our taste when we visit houses for sale, is this a reason to reject a house that has many other assets? The CMHC...

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RATES OF

May 25 2020

TERMS BANKS MORTGAGE PLANNERS
1 Year Fixed 3.99% 2.49%
2 Years Fixed 3.89% 2.34%
3 Years Fixed 4.34% 2.39%
4 Years Fixed 4.89% 2.44%
5 Years Fixed 4.94% 2.29%
5 years Variable 2.45% 2.20%
7 Years Fixed 5.80% 2.44%
10 Years Fixed 6.60% 2.89%
HELOC 2.45% 3.05%