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CURRENT RATES

2 YEAR 3.44%

3 YEAR 3.14%*

4 YEAR 3.64%*

5 YEAR 3.29%*

5 YEAR Variable 2.70%*

Updated September 24th, 2018
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

Oriana News

How to determine when you’ll pay more for a mortgage

Globe and Mail ~ August 3rd, 2018Nobody wants to pay more than necessary when getting a mortgage. But more than four out of five applicants have little chance at getting Canada’s true lowest rate.Rock-bottom rates are reserved only for mortgages that present the least risk and cost for the lender. And relatively few mortgages fall into this bucket.Mortgages have always been priced based on the risk you present to the lender. But after 10 years of gove...[Read More]

Bank of Canada raises rates as Poloz’s tale of recovery from Great Recession finally starts coming true

Financial Post ~ July 11th, 2018Kevin Carmichael: Beyond trade, the bigger story in decision is that most companies are responding to their order books rather than headlines in business pagesThe Bank of Canada raised interest rates July 11 because Stephen Poloz’s tale about how the economy would recover from the Great Recession finally is coming true.Most everyone assumed the central bank would lift the benchmark rate a quarter point to 1.50 per cent....[Read More]

Interest-Only Makes a Comeback

Canadian Mortgage Trends ~ June 22nd, 2018Innovative mortgage products. Remember those?With Ottawa’s onslaught of rule tightening, it’s been a while since we’ve seen a new product that was substantially unique. This is one of them.Merix Financial, the broker channel’s seventh-largest lender by market share, is launching the Interest-Only Flex mortgage on Monday.The IO Flex has one key purpose: to cut a borrower’s mo...[Read More]

Mortgage Rates 101

Quite often I am asked, "What are the current mortgage rates"?  With the mortgage market today, this is not an easy question to answer anymore. . There are things to consider when it comes to mortgage rates: 1.    Is this a purchase, renewal or a refinance? 2.    If you are purchasing, how much is your down payment? Is it more or less than 20%?3.    What is your credit score?  It is Good or Bad?4.&nbs...[Read More]