The best rates at any point in time are for "live transactions" (meaning offer already in hand). When you find your dream home, Nikole re-scans rates to be sure you are getting the best options that also work with your purchase, application and goals.

Our 5yr Rates

5 Year Fixed 
2.09 % - 2.34%

5 Year Variable 
1.20% - 1.35%

The above represents owner occupied, insured (less than 20% down) mortgages. 1-10yr terms available. Rates subject to change without notice. 


Which is better for the consumer, accelerated WEEKLY or BIWEEKLY payments? 

Accelerated Weekly,
but by very little. 

Assuming a $300,000 mortgage, 25yr amortization, 1.7%; the interest cost after 5yrs between weekly and bi-weekly is $14. 

What is the difference between fixed and variable?

Is it true if you have a 20% down payment, you pay a HIGHER rate than someone with LESS than 20% down?

Yes, in 2016 when the stress test was introduced rates became divided among down payments, programs and some lenders even have min credit ratings attached to their rates.
Here's the thing, when we put LESS than 20% down in Canada, we have to purchase default insurance (ex. CMHC, Sagen, Canada Guaranty) and this premium is added to the total mortgage. So if someone puts 10% down, a 3.1% premium is added to the mortgage. If you put 20% down, you don’t have a premium to pay. 

I have checked the option for clients who have 20% down but want to insure the mortgage to save on rate - not one time, to date, has it worked out in the clients best interest to take on the premium for a lower rate.

Is it true that the lender charges more interest in the beginning? 

Yes, but not because of the lender, but because your balance owing is largest in the beginning. Each and every payment is based on the current balance, rate and amortization. So every payment you make, the next one you get a few cents more going to the principal...and it keeps going up as you pay it down. 

I get this question A LOT. Hope this helps!