Looking for the best mortgage rates? Look no further! Dan Faubert is a trusted Ottawa Mortgage Broker who can offer the BEST mortgage rates in Ottawa and Toronto!
Mortgage Rates updated April 28th, 2017
|Term||Our Best Rates
|6 Months||3.10 % 120 day|
|1 Year Closed||2.44 % 120 day|
|2 Year Closed||2.34 % 120 day|
|3 Year Closed||2.36 % 90 day
|4 Year Closed||2.49 % 120 day insured only
|5 Year Closed||2.49 % 120 day Purchase
|7 Year Closed||3.35 % 120 day
|10 Year Closed||3.84 % 120 day|
|Closed Variable||*2.05% (Prime -.65) 120 day rate hold
Note, when qualifying for a mortgage, due to new government regulations, you must now “qualify” using a government set rate of 4.64% today. This is regardless of what mortgage term you are taking, and or what the actual contract rate you are getting from the lender.
Mortgage rates can be held from 4 months to 6 months, depending on the lender being used. If rates drop, your rate will be lowered up to two days prior to closing. If rates increase, no worries, your rate is guaranteed to be no higher than originally set.
The above rates are available to credit qualified borrowers. Rates subject to change.
Individuals that do not qualify normally may still be financed, but must call for a quote on rate and fees based on their particular circumstance.