Mortgage Application

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Refinancing

The process of refinancing

  • Figure out if this is a refinance or mortgage transfer
    • A refinance is defined as increasing the size of the mortgage
    • A mortgage transfer is moving the mortgage to another lender without altering the size of the current mortgage
  • Contact your broker
    • Complete online application
    • Discussion what options best suit your needs
    • Get pre-approved and obtain a rate hold (if selecting a fixed rate)
  • Review existing liabilities
    • Strongly consider adding any existing liabilities to the mortgage if your interest rate is higher on the liabilities
  • Provide documentation
  • Instruction process
    • The solicitor or lender will contact you to arrange a time to sign final docs
    • We will provide a trusted solicitor contact if required

Latest Post

February Mortgage Update

February 14th, 2012

Rate Update Bond Yields have been hovering around the 1.4% mark since last Wednesday.  When these increase, the cost of funding fixed rate mortgage also increases.  Should there be further upward pressure on bond yields we could see a bump in the fixed rate market.  We recently saw some of the major banks pull their [...]

Mortgage Rates

  • Term
  • Rate
  • Prime
  • 3.00%
  • Variable
  • 2.90%
  • 1 year
  • 2.89%
  • 3 year
  • 2.89%
  • 4 year
  • 3.19%
  • 5 year
  • 3.19%
  • 10 year
  • 3.99%

Qualifying Rate

  • Feb 22
  • 5.14%

Current Inflation

  • Jan
  • 2.5%

5 Year Bond Yield

  • Feb 22
  • 1.49%

Start Your Mortgage