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Old 2020-12-09, 12:13 PM
MortgageGuy MortgageGuy is offline
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Regular User
Join Date: Jul 2008
Location: Ottawa, Ontario
Posts: 1,104
Default Dec 12th, Best mortgage rates :)

Mortgage rates are still dropping…. NOT in leaps and bounds but every little bit helps!
The 5 yr fixed rate for an insured purchase(less than 20% down payment) is still at 1.60% 90 day closings only
1.64% for 120 days...
Yes I know HSBC may have something lower but they won't deal with me and I honestly have heard nothing but bad comments on customer service and turn around. I also do NOT know if they register their mortgages as collateral and or if their mortgages have any restrictive clauses. I do know their 5 yr variable is at .99%(insured purchase only), but as above I don't know much about their mortgage.
BUT with that even being said, I am not a believer in variable rates(even at that rate) for anyone who is payment conscious in their budget. Their is a lot of room to go up with variable rates, even if the 5 yr fixed rates stay lower.
Just food for thought and my belief. It is anyone's guess where and what happens to rates given our pandemic times. Who would ever have thought we would have the incredible price increase we have had during COVID.

Pre-approvals being done now at 5 yr fixed 1.89%
Best 5 yr fixed rate with more than 20% down payment…
1.74% for a 65% advance.
1.89% for a 80% advance mortgage.
Best other insured rates…120 day closings
1 yr 1.64%
3 yr 1.64%
Variable 1.39% (Prime - 1.10) 90 day rate hold
For complete list of rates and terms go to
Have a great week,
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
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