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Loan Rates | Mortgages: Open, variable to 2 years
| Financial Institution | Variable | 6 Months | 1 Year | 2 Years |
| ATB Financial | 3.800 | 6.300 | 6.300 | 6.500 |
|---|---|---|---|---|
| Alterna Bank | 3.750 | 6.300 | 6.300 | - |
| Alterna Savings | 3.750 | 6.300 | 6.300 | - |
| Bank of Montreal | 4.000 | 6.300 | 6.300 | - |
| Bank of Nova Scotia | - | 6.450 | 6.500 | - |
| Boomerang Credit Union | 4.000 | - | 6.300 | - |
| CIBC Mortgages | 4.000 | 6.700 | 6.350 | - |
| Caisses Desjardins | - | 6.500 | 6.300 | - |
| Canadian Western Bank | - | 6.450 | 6.300 | - |
| Canadian Western Trust | - | 6.450 | - | - |
| DUCA Financial Services | - | - | 5.750 | - |
| Effort Trust | - | 6.300 | 6.300 | - |
| Equitable Trust | - | 6.300 | 6.300 | - |
| First Calgary Financial | - | 6.300 | 6.300 | - |
| FirstOntario Credit Un. | 3.900 | 6.340 | 6.340 | - |
| HSBC Bank Canada | 4.000 | 6.200 | 6.350 | - |
| Investors Group Trust | - | 6.500 | 6.300 | - |
| Laurentian Bank Canada | - | 6.700 | 6.300 | - |
| League Svgs & Mortgage | - | 6.450 | - | - |
| Libro Financial Group | - | 5.000 | - | - |
| London Life | - | 6.500 | 6.300 | - |
| Manulife Bank | 3.500 | - | 4.000 | - |
| Manulife Trust | - | - | 4.000 | - |
| Meridian Credit Union | - | - | 6.300 | - |
| National Bank | - | 6.700 | 6.300 | - |
| Ontario Civil Service CU | - | 6.500 | 6.500 | - |
| PACE Savings & Credit Un | - | 6.700 | 6.300 | - |
| Parama Credit Union | 3.250 | - | - | - |
| Royal Bank of Canada | 4.000 | 6.300 | 6.300 | - |
| Servus Credit Union | - | 6.300 | 6.300 | 6.500 |
| Steinbach Credit Union | 3.000 | - | - | - |
| T-D Mortgage | 4.000 | - | 6.300 | - |
| Teachers Credit Union | - | 6.300 | 6.500 | - |
| Windsor Family C.U. | 4.000 | - | - | - |
| Your Neighbourhood C.U. | - | - | 6.000 | - |
A mortgage is a contract stipulating a specific property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features. Closed mortgages involve a strict repayment schedule of a specific amount with optional limited lump sum payments and payment increases.
Prepared by Cannex on May 20, 2013
This information is current as of the date and time posted and is subject to change without notice.
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