COUNTRYSIDE FINANCIAL LENDER’S MORTGAGE RATES AS OF
23 October 2024
Bank of Canada Benchmark Rate is currently 5.25% -> [http://www.bankofcanada.ca/rates/daily-digest/]
Bank of Canada Prime Lending Rate with mortgage lenders is currently 5.95% (TD Canada Trust prime is 6.15%) as at 23 Oct 2024.
Current CMHC Mortgage Loan Insurance Premiums -> https://www.cmhc-schl.gc.ca/en/co/moloin/moloin_005.cfm
FIXED RATE TRADITIONAL MORTGAGES – INSURED (HIGH-RATIO 5-20% D/P OR LOW-RATIO INSURED/INSURABLE)
| Term | Bank Posted Rate | Best Rate |
|---|---|---|
| 1 year [6 month] | 7.74% [7.94%] | 6.39% [7.55%] |
| 2 years | 7.34% | 6.02% *HIGH-RATIO SPECIAL 5.59%* |
| 3 years | 6.49% | 5.17% *HIGH-RATIO SPECIAL 4.59%* |
| 4 years | 6.74% | 4.94% |
| 5 years | 6.79% | 4.49% *HIGH-RATIO SPECIAL 4.04%* |
| 7 years | 7.10% | 5.84% |
| 10 years | 7.25% | 5.89% |
FIXED RATE TRADITIONAL MORTGAGES – UNINSURED (CONVENTIONAL >20% D/P; REFINANCE, RENTAL PROPERTY, >25 YEAR AMORTIZATION).
| Term | Bank Posted Rate | Best Rate |
|---|---|---|
| 1 year [6 month] | 7.74% [7.94%] | 7.03% [7.70%] |
| 2 years | 7.34% | 6.17% |
| 3 years | 6.94% | 5.09-5.32% |
| 4 years | 6.74% | 4.94-5.27% |
| 5 years | 6.79% | 4.84% *Low LTV From 4.54%* |
| 7 years | 7.10% | 5.99% |
| 10 years | 7.25% | 6.04% |
OAC. All rates & rules subject to change without notice. Special discounted rates may be subject to certain terms & conditions. These rates are provided for informational purposes as rates available in the marketplace; please get in touch with us to see your eligibility for any promo’s or additional discounts.
REVERSE MORTGAGES
| Income Advantage | CHIP | ||
|---|---|---|
| 6 month | Traditional Banks | — | 5.86%* |
| 1 year | Cannot | 4.99% | 5.50%* |
| 3 years | Help You | 5.19% | 5.19%* |
| 5 years | With A Reverse Mortgage! | 5.29% | 5.29%* |
VARIABLE RATE TRADITIONAL MORTGAGES
VARIABLE RATE TRADITIONAL MORTGAGES – INSURED (HIGH-RATIO 5-20% D/P OR LOW-RATIO INSURED/INSURABLE)
| Term | Bank Posted Rate | Our Rate |
|---|---|---|
| Prime Rate | 6.45% | TD is 6.60% | 6.45% | TD is 6.60% |
| 3 Year | N/A | N/A |
| 5 Year | Prime % | Prime -1.0% |
| Open | Prime + .80% | Prime + .80% |
VARIABLE RATE TRADITIONAL MORTGAGES – UNINSURED (CONVENTIONAL >20% D/P; REFINANCE, RENTAL PROPERTY, >25 YEAR AMORTIZATION)
| Term | Bank Posted Rate | Our Rate |
|---|---|---|
| Prime Rate | 6.45% | TDCT is 6.60% | 6.45% | TD is 6.60% |
| 3 Year | N/A | N/A |
| 5 Year | Prime % | Prime – .55% |
| Open | Prime + .80% | Prime + .80% |
| Home Equity Line of Credit | Prime + 1.0% | Prime + .50% & Up *SPECIAL PRIME +.20%* |
| 2nd Mtg – Home Equity Line of Credit | Prime + 1.0% | Prime + 1.0% & Up |
OAC. All rates & rules subject to change without notice. Special discounted rates may be subject to certain terms & conditions. These rates are provided for informational purposes as rates available in the marketplace; please get in touch with us to see your eligibility for any promo’s or additional discounts.
REVERSE MORTGAGES
| Variable | No Bank Rate | Prime + 1.75% | 5.20% |
PRIVATE LENDING & PERSONAL LOANS
PRIVATE MORTGAGE – RATE & FEE DETERMINED CASE BY CASE – Please contact us for more details.