Toronto Mortgage Rates
Here are the latest Toronto mortgage rates. These rates are broker negotiated and not avaiable directly from banks.
| Term | Our Rates | Bank Rates | Change |
|---|---|---|---|
| 6 Month | 6.03 | 6.85 | +0 |
| 1 Year | 5.91 | 6.95 | -1 |
| 2 Year | 5.74 | 7.00 | -1 |
| 3 Year | 5.74 | 7.00 | -1 |
| 4 Year | 5.48 | 6.85 | -1 |
| 5 Year | 5.52 | 6.99 | -1 |
| 7 Year | 5.51 | 7.35 | -1 |
| 10 Year | 5.81 | 7.75 | -1 |
Bank rates are current Toronto bank rates supplied by a cross-section of the top Canadian banks mortgage rates. These are the most current Toronto mortgage rates and are updated daily.
Our rates are our most competitive rates via our recommended mortgage broker. A given home buyer may or may not qualify for the lowest listed rate, but this rate is indicative of the kind of rates you can expect by dealing through our mortgage broker rather than approaching a bank directly. It is well worth your while to have the services of a good mortgage broker.
Change is the week to week change in Toronto mortgage rates. Many weeks there will be no change but this serves as an indication of where mortgage rates are going in Toronto.
For our out of country guests - a currency converter
Use this currency converter from HiFX to convert from Canadian dollars to your local currency:
The conversion will be done at today's real transactional rate not a central bank rate.
HiFX is experienced in helping out of country buyers protect their deposits & downpayments from currency fluctuations, resulting in significant savings when buying in Canada. We regularly recommend them to all our out of country buyers. You can get all their information on what they do and how they can help you quickly and with excellent customer service, at http://www.hifx.com/personal/property_purchase/overview.aspx
In October 2007 Doug Johnson of HiFX was once again in the news, in an article in Business Weekly - if you're an out of towner you might want to read excerpts from the article below about the benefits of owning abroad!
HiFX, a firm based outside London that provides foreign exchange services, estimates that there are more than 500,000 relocations of Americans to foreign countries per year, with the biggest concentrations of Americans residing in Mexico (approximately 1 million), Canada (700,000), and Britain (200,000).
Many Americans also choose to purchase foreign property as an investment, or relocate overseas for business reasons.
According to a recent survey conducted by HiFX, Americans who invested in overseas residential properties from 2001 to 2006 achieved investment returns that were two to four times what were generally available in the U.S. Buying a home in another country is not an easy task, but there are plenty of specialists available to help you through the process. "The do-it-yourself attitude can kind of bite you," says Johnson. For instance, if you're buying a house in Paris, where the euro is rising against the U.S. dollar, and it takes six months to close, a foreign exchange specialist can help you lock in an exchange rate over that period.
