TORONTO — HSBC says it will offer rates below one per cent for some mortgages, which rate comparison website RateSpy.com says is a record low for Canada.
The bank is advertising a 0.99 per cent rate on its website for new five-year variable closed term mortgages, with the annual percentage rate, or APR, based on a $200,000 mortgage.
The deal applies to high-ratio residential mortgages, which means the homebuyer has a down payment of less than 20 per cent of the purchase price.
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Author: Erwin
Erwin has been investing in real estate since 2006 and is a highly decorated investor and realtor. His list of awards and accomplishments includes:
• FOUR time consecutive finalist for the Michael Millenaar Memorial Award and 2013 WINNER for his leadership and contribution to the Real Estate Investment Network community.
• TWO time finalist & 2015 WINNER for Realtor of the Year for Ontario by the Real Estate Investment Network
• TWO time finalist & 2016 WINNER for Real Estate Agent of the Year by Canadian Real Estate Wealth Magazine
• REIN™ Ambassador (Endorsed Realtor by REIN™)
• Silver award recipient by the Real Estate Investment Network
• 2013’s Top Player Award by the Real Estate Investment Network
• Regular contributor to REIN™ Real Estate Report and Canadian Real Estate Wealth Magazine
Erwin has owned and still owns numerous investment properties: single family, renovate and hold, multi-family, multi-family conversion, and student housing. He left his corporate job at “Big Blue†to pursue his passion as an entrepreneur in investment real estate. He’s been featured in the Hamilton Spectator and been a guest speaker at several investment networks and has coached numerous successful real estate investors by focusing on economic fundamentals and financials.
