Fixed Rate Closed Mortgage
Fixed mortgage rate with lowest guaranteed interest rate.
- Lowest guaranteed interest rate for the term of your mortgage
- Protection from rising rates
- Pay down up to 15% of principal each year on your anniversary
The Fixed Rate Closed Mortgage is one of the most popular mortgage solutions we offer. It provides the security of a highly competitive fixed rate over the full term of your mortgage and predictable payments. And you have the option to save even more by making additional payments each year on your mortgage anniversary date.
This can be an ideal solution for first-time buyers who choose a long amortization period. Taking advantage of our fixed mortgage rates protects you from rising interest rates. A closed mortgage offers a better interest rate than an open mortgage and also allows you to lock in for longer terms (up to 10 years).
| Term | 6 months to 10 years |
|---|---|
| Payments |
|
| Rate | Locked in for the term of the mortgage |
| Amortization | Up to 25 years (standard); longer amortizations available - talk to your advisor |
| Financing | Up to 80% of the value of your property; up to 95% if insured by a third party such as CMHC |
Rates
| Fixed Rate Closed Mortgage (Rates effective 2020-10-01) | Rates |
|---|---|
| 6-Month Fixed Rate Closed Mortgage | 4.55% |
| 1-Year Fixed Rate Closed Mortgage | 3.14% |
| 2-Year Fixed Rate Closed Mortgage | 3.24% |
| 3-Year Fixed Rate Closed Mortgage | 3.75% |
| 4-Year Fixed Rate Closed Mortgage | 4.24% |
| 5-Year Fixed Rate Closed Mortgage | 4.79% |
| 5-Year Fixed Rate Closed Mortgage (Effective 2020-10-01) | Special Rate** 2.14% |
| 7-Year Fixed Rate Closed Mortgage | 5.40% |
| 10-Year Fixed Rate Closed Mortgage | 5.80% |