Hello SON,
I am a Mortgage Broker in Toronto, Does anyone have any questions regarding what is needed to qualify for Real-Estate Financing in Ontario? I would love to hear some of the presumptions and misconceptions so that you can be better knowledgeable on the subject for your future benefit.
Ask away!
dunno that there are too many CDN guys here in the mortgage market but i am sure there are US dudes that have some questions about our market that i havent been able to answer particularly well
Hopefully they find their way here as there is allot of misinformation in the market!
what kind of rates are you seeing in the secondary market from streetcapital and B2B right now?
B2B Bank
1 Year 3.05%
3 Year 3.14
5 Year 2.98
10 Year 4.99
VRM Prime -.60%* (2.85-.60) = 2.25%
Street Capital
1 Year 2.89%
3 Year 2.69
5 Year 2.99
10 year 4.79
VRM Prime -.50% (2.85-.50) = 2.35%
First National
1 Year 2.99%
3 Year 2.69
5 Year 2.89
10 Year 4.49
VRM Prime -.55% (2.85-.55) = 2.30%
Here they are!
i guess B2B hasnt dropped theirs since the BOC dropped the rate. i just into their 5 year.
how about MCAP? their fixed rate back in Nov smoked those for a 3 year.
Can many maple syrups can you put down for a deposit in Ontario?
MCAP
1 year 2.89%
2 year 2.59%
3 year 2.79
5 year 3.09
10 year 4.49
ARM Prime -.50% (2.85-.50) = 2.35%
The best 3 year on the market right now is CFF Bank @ 2.59%
MCAP’s 3 Year was 2.79% in Nov and their 2 year was 2.59%
rates in the states are many % higher… most people in WNY from what i saw were mid to high 3.XX%
You aren’t comparing similar loan structures. In the states you can get 3.25% pretty readily right now and that is locked for 30 years.
Just dropping to a 15 year term gets you 2.5%
A 5/1 ARM is 2.33%
All numbers current from Zillow right now.