—The Mortgage Report: June 22— Just the Latest Head-Turning Rate: What would a week be without a new low in mortgage rates? The latest term to wear the low-rate crown is the 1-year fixed, thanks to a new promo available through deep-discount brokers. Priced at 1.69%, it’s the cheapest effective rate on a 12-month mortgage since 2016. It’s also officially...
The spring mortgage market just got another boost. HSBC has unveiled a brand new 1.99% 3-year fixed that is now the lowest mortgage rate in Canada. It’s for default-insured (“high-ratio”) mortgages only, but it’s spectacular nonetheless. The last time the bank had a rate this low was July 2017 on a 5-year variable. “We are responsive to the market, which...
Savings account rates are not usually our playground. But when a bank launches a savings rate that’s 43 basis points above the typical 5-year fixed mortgage rate, it’s worth a comment. Laurentian Bank of Canada (LBC) is the party in question. It has a new eye-catching3.30% high-interest savings account (HISA) rate with no regular fees or strings attached. Here are...
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