Today's Canadian Mortgage Rates

Keep Informed About Mortgage Rates...

Use The Helpful Bank Links Provided Below For Current Rates

Factors to consider when shopping for a mortgage:

Initial Costs - down payment, closing costs.
Monthly Costs - mortgage payments, other monthly financial debts.
Inspection Fee - recommended on any home purchase.
Mortgage Application Fee - processing fees.
Appraisal Fee - appraisal most times required to insure the property value of the home.
Legal Fees - lawyer/notary costs.
Closing / Adjustment Costs - property taxes,registration,disbursements,commissions.
Land Transfer Tax - varies by province.
Property Insurance - against fire etc. most often required by the financial institution.
Moving Costs - whether by moving company or do it yourself.
Additional Costs - surveys,warranty,high risk mortgage premiums,utility connections.
New Home Costs - window coverings,landscaping,new furniture,GST if applicable.

Basics About Mortgages:

Principal - the amount of money you need to borrow after down payment.
Interest - the cost amount you will pay for borrowing.
Mortgage Payment - weekly,bi-weekly,monthly (the frequency is up to you).
Amortization Period - the actual number of years it takes to pay off the mortgage,generally a period between 10 - 25 years.
Term - length of time between renewals( can be in terms of months or years),at the prevailing rates and conditions at that time.It's your choice.
Equity - the difference between the market value of the property and the mortgage amount.
Types of Mortgages - closed,open,convertible,fixed or variable rates,and many new products that become available depending upon the financial institution you use.

Click on the following links below for today's rates

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