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Compare Mortgage Rates from Canada’s Top Lenders

We follow Canada’s top mortgage lenders and have established a volume based relationship.  Our mortgage volume has allowed us to negotiate wholesale mortgage rates for our clients.  Take a look at the mortgage rates offered by our lenders and simply select your preferred lender.  We’ll be in touch with you in a few hours to guide you through the process of securing your next mortgage.

Compare Mortgage Rates
Last Updated: July 6th 2016

 

Type Term Mortgage Rate Lender Apply Now!
Fixed 2 Yrs 2.24%
Variable 5 Yrs 2.35%
Fixed 5 Yrs 2.69%
Fixed 5 Yrs 2.49%
Variable 5 Yrs 2.35%
Fixed 5 Yr 2.49%
Fixed 5 Yr 2.54% First National Logo
Fixed 10 Yr 3.59% Scotiabank Logo Apply Now Button
Fixed 5 Yr 2.49% Apply Now Button

 

 

Mortgage Rates

The two primary options to consider are fixed versus variable mortgage rates.  Fixed mortgage rates are more popular among Canadian homeowners as they provide a sense of stability and allow borrowers to better budget their finances over the long term.  Variable mortgage rates are typically lower than fixed mortgage rates and grow in popularity as the gap between the two grows.

Fixed Mortgage Rates

Fixed mortgage rates are ideal for first time home buyers and those homeowners with relatively tight budgets.  Although fixed mortgage rates come at a premium, they provide a guarantee that regardless of market conditions your mortgage payments will not go up.  Fixed term mortgages are typically offered in terms ranging from 1 to 10 years.  5 year fixed mortgage rates are the most popular term as they provide a medium term outlook.  This time period is long enough to provide security in the short term whithout locking in borrowers to potential costly penalties in the long term.

Variable Mortgage Rates

Variable mortgage rates vary in relation with the prime rate of interest.  This variance can be as much as one full percentage point below prime to as high as one full percentage point above prime.  This variance depends on market conditions and at the time of writting of this article stands at Prime – 0.40%.  This puts the 5 year variable mortgage rate one full percentage point below the 5 year fixed mortgage rate.  This is a significant incentive that is supportated by a historical look at the benefits of variable mortgage rates.  Homeowners need to be careful about choosing a variable mortgage rate as the reward of a lower rate comes with the risk that it will increase significanlty over time.

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Dan Wowk has been an incredible resource and help for my family's search for our mortgage renewal. His professionalism and timeliness has helped reduce stress and save us a lot of money in the process. I highly recommend Dan and Zoom Mortgage to anyone wanting someone they can trust with their mortgage needs.
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Dr. Freddie So

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Dan thanks again for all your help in renewing our mortgage and setting up the line of credit. I appreciate how you made the process fast, simple and hassle free. Great rate too.
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Mike E. of Oakville

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I just wanted to thank you Dan for your continued professional service over the years on my mortgage with ZoomMortgage. I got the best rate on the market and even with today’s recent low interest rates, I still have a better rate than what is being offered – in fact, my friends can’t believe what you got for me!! That’s why I referred them to you and now they are so happy with your Fast service and the great experience that you have. A BIG thank you from a single mom that was struggling in getting the right mortgage.. YOU ARE THE BEST
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Lorette S of Burlington

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Just wanted to say that Dan is the best! He gets the job done! He is quick, efficient and professional… For any mortgage concerns, call him now!!!!
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Corinne F. of Oakville

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Thanks for getting back to me so quickly. Very impressed.
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Chris of St. Thomas

"Dan Wowk has been an incredible resource and help for my family's search for our mortgage renewal. His professionalism and timeliness has helped reduce stress and save us a lot of money in the process. I highly recommend Dan and Zoom Mortgage to anyone wanting someone they can trust with their mortgage needs."

Dr. Freddie So

"Dan thanks again for all your help in renewing our mortgage and setting up the line of credit. I appreciate how you made the process fast, simple and hassle free. Great rate too."

Mike E. of Oakville

"I just wanted to thank you Dan for your continued professional service over the years on my mortgage with ZoomMortgage. I got the best rate on the market and even with today’s recent low interest rates, I still have a better rate than what is being offered – in fact, my friends can’t believe what you got for me!! That’s why I referred them to you and now they are so happy with your Fast service and the great experience that you have. A BIG thank you from a single mom that was struggling in getting the right mortgage.. YOU ARE THE BEST "

Lorette S of Burlington

"Just wanted to say that Dan is the best! He gets the job done! He is quick, efficient and professional… For any mortgage concerns, call him now!!!!"

Corinne F. of Oakville

"Thanks for getting back to me so quickly. Very impressed."

Chris of St. Thomas

F.S.C.O. Brokerage License # 11931 - Broker Owner: Dan Wowk: Mortgage Agent #M09000576
Head Office: 2386 Lionstone Drive, Oakville, Ontario L6M 4S9 | Phone: 905-847-0100

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