I am now offering my clients 3.99% for 5 year fixed mortgage preapprovals.

I can now offer my clients the very low 5 year mortgage rate of 3.50% using a 50/50 mortgage product. It allows you to take advantage of today’s low variable rates while still keeping some of the security of a 5 year fixed mortgage.

Variable rate mortgages are at the lowest rates in history at the moment and those of you that took a variable rate over a year ago and received a discount to prime are currently paying a little over 1% interest on your mortgage. However, those of you that are looking at getting a variable rate mortgage today are looking at paying a premium on top of the prime rate. Why not consider taking a 1 year fixed rate mortgage until variable rates once again have a discount?

Recently some of the lowest mortgage rates have been attached to mortgages with non-standard terms. In this post I will explain a bit about the Canadian Mortgage Backed Security market and how it contributes to the offering of the unique mortgages.