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Mortgage Poll

Which way do you think interest rates will trend in the next 6 months?

Up more than 1% - 11.6%
Up slightly - 30.1%
No change - 36.5%
Down slightly - 13.4%
Down more than 1% - 1.9%
Don't Know - 3.4%

Total votes: 2531
The voting for this poll has ended on: April 1, 2022
Integrated Mortgage Planners - GTA - Toronto

Week of December 5, 2022

This three-year fixed-rate mortgage is offered at 4.99%.   

Closed Three-year Fixed Rate

  • Eligibility: Available to borrowers who are purchasing a property for less than $1 million and who are putting down less than 20% of the purchase price. 

  • Rate Hold: This rate can be held for up to 90 days.
  • Use of Funds: Available for purchases of owner-occupied properties.

  • Prepayment Flexibility: Borrowers can make additional lump sum payments of up to 20% of their original balance throughout each year of their mortgage term and can also increase their regularly scheduled payments by up to 20%.

  • Maximum Purchase Price: $999,999.

  • Maximum Amortization Period: 25 years. 

  • Penalty Terms: This mortgage comes with a penalty that will be the greater of three months' interest or interest-rate differential (IRD), and the IRD penalty is calculated using posted rates (which is higher than the lowest penalties charged by other lenders).

  • Portability: This mortgage is portable, provided that both transactions occur within the 60 days of each other.

Here is an illustration of what a $300,000 mortgage would cost (assuming that the rate does not change over the five-year term):

  Monthly Payment Opening Balance Interest Paid Over Term* Balance at Renewal

Three-year Fixed-rate Mortgage at 4.99%

$1,744 $300,000 $70,068 $265,481

* This estimate is for reference purposes only and borrowers are cautioned that variable mortgage rates are subject to change at any time. 

If you would like to see what your mortgage payments would look like if you took advantage of this offer, try my mortgage calculator.

If you want to learn more about the powerful impact making extra payments can have on the long-term cost of your mortgage, check out my post called The Magic of 5%

To ensure that you don't miss out on this offer, call or This email address is being protected from spambots. You need JavaScript enabled to view it. today.