Mortgage Rates 17 February 2023

At the present time mortgage rates can usually be negotiated on the following basis.

Current Mortgage Rates are

“A” Lending:

Fixed       4.59%* for insured 
Fixed       5.24% for conventional
Variable   5.75% for insured 
Variable   6.30% for uninsured 

Rental      5.39% fixed

                6.60% variable

Prime Rate              6.70%
Qualifying Rate     Contract Rate + 2%

Next rate set by Bank of Canada is on Mar 08, 2023

“B” Lending:

“B” Lending – 

       2 years – 6.24%

       3 years – 5.99%

35 years amortization available*

TDS up to 60%

Self-Employed – 6 to 12 months bank statements 

Bad/Bruised Credit

Rental Properties  
Existing or Previous Consumer Proposal

“C” Lending:

Rate starts from 9.00%**

No documentation required

Quick Closing

True Stated income

No Proof of Down Payment

Interest only or 40 years amortization
Fully open or 3 months interest penalty

“2nd Mortgage”

Rate starts from 12.99%

If you are seeking a mortgage, give me a call and I will make a recommendation concerning a mortgage broker.

Brian Madigan LL.B., Broker

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