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ONE YEAR FIXED RATE MORTGAGE | 2.59%
One (1) year fixed rate mortgages allow you to lock-in the interest rate on your credit for a single year term. Interest rates and installments remain the same until the end of the term, at which time the mortgage comes up for renewal and you can move into whatever mortgage type works best for you at that point. BC mortgage rates on 1-year fixed rate mortgages are closely related with Canadian government 1-year bond yields. Lenders will likely charge you the current 1-year yield plus a small premium. Only a small percentage of Canadians select to take a 1-year term on their home loan, there are a few reasons why you should consider a one year fixed rate mortgage. With a 1-year fixed rate mortgage, you'll have 12 months of interest rate assurance while having the capacity to do whatever you need with your home loan at the end of the year. It's a perfect term if you need to stick around for an opportunity and see what the interest rate environment will look like in a year. Current Rate: 2.59%
TWO YEAR FIXED RATE MORTGAGE | 2.19%
Two (2) year fixed rate mortgages allow you to lock-in the interest rate on your credit for a 2-year term. Interest rates and installments remain the same until the end of the two year term, at which time the mortgage comes up for renewal and you can move into whatever mortgage type works best for you at that point. BC mortgage rates on 2-year fixed rate are closely related with Canadian government 2-year bond yields. Most lenders will charge you the current 2-year yield in addition to a premium (factoring in current economic conditions and competitors prices). Even though the interest rates on fixed rate mortgages are usually higher; the majority of Canadians still pick them over variable choices. For some people the additional expense of fixed rate is a type of protection against quickly rising rates – and well worth paying for! Current Rate: 2.19%
THREE YEAR FIXED RATE MORTGAGE | 2.34%
Lock-in the interest rate on your credit for a three (3) year term. BC mortgage rates on 3-year fixed rate mortgages are closely related with Canadian government 3-year bond yields. Recently, low yields and tight credit spreads have pushed 3-year fixed mortgage rates to record lows! A three year fixed rate mortgage offers a balanced approach: you get insurance from rising interest rates for three years while appreciating lower rates than those in the more prevalent 5-year fixed term. Based on your needs at the time, you may find that included expense of a 5-year term simply isn't justified regardless of the extra years of interest rate security. Current Rate: 2.59%
FOUR YEAR FIXED RATE MORTGAGE | 2.49%
While not many Canadians choose a four (4) year fixed rate mortgage, we offer a fixed rate for 4-years, this home loan brings you the security of realizing that neither your advantage nor your installments can increment amid that time. The 4-year fixed rate is based on Government of Canada 4-year security yields. A five year mortgage may give you an edge on paper; you get an additional year of interest rate assurance without paying more. Regardless, everyone has their own unique needs and you may want to have the capacity to renegotiate or release your mortgage in four years as opposed to five.
FIVE YEAR FIXED RATE MORTGAGE | 2.39%
FIVE YEAR VARIABLE RATE close Prime minus 70 BPS | 2.15%