World News – CA – HSBC is offering mortgage rates below 1%


. .

TORONTO – HSBC claims to offer interest rates below 1% for some mortgages that rate the rate comparison website RateSpy. com says is a record low for Canada.

The bank is promoting a 0. 99% interest rate on its website for new five-year variable term mortgages, with the annual percentage (APR) on a mortgage being 200. 000 USD based.

The deal applies to high-rate residential home mortgages, which means the buyer has a down payment of less than 20% of the purchase price.

prices. Robert McLister, editor of ca and RateSpy, says this is an important point as the buyer also has to pay for the default insurance due to the small down payment.

The rate is also variable based on changes in the HSBC policy rate, which is now 1. 46%, so the interest rate could go up in the next few years if the economy improves and the Bank of Canada increases the interest rate.

Mortgage rates are currently low after the Bank of Canada cut its overnight rate in the wake of the COVID-19 economic downturn.

Postmedia is committed to maintaining a lively but civil discussion forum and encouraging all readers to share their views on our articles. It can take up to an hour for comments to be moderated before they appear on the website. We ask that you keep your comments relevant and respectful. We have activated email notifications. You will now receive an email when you get a reply to your comment, when a comment thread you’re following is updated, or when a user follows comments. For more information and details on customizing your email settings, see our Community Guidelines.

© 2020 Canoe. com, a division of Postmedia Network Inc. . All rights reserved. Unauthorized distribution, distribution or republication is strictly prohibited.

This website uses cookies to personalize your content (including ads) and allows us to analyze our traffic. Read more about cookies here. By continuing to use our website, you agree to our terms of use and privacy policy.

Mortgage Loans, Fixed Rate Mortgage, HSBC Bank, RateSpy. com, Canada

World News – CA – HSBC offers mortgage rates below 1%
Related Title :
Record HSBC Low Mortgage Rate
Less than 1% mortgage rate now available in Canada
HSBC offers mortgage rates below 1%


Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: