Hi, my name is Michael Fortin and I have been a mortgage specialist for over 20 years. During that time, we have seen many changes in the mortgage landscape. The decision is more complicated than it has ever been – more choice and of course more decisions to make. That said, at the same time there seems to be a push to move quickly and have an application done in five minutes and a focus on the lowest rate. This sounds great, but I would encourage you to take some time – lets say how long it takes to watch an average TV Show – an hour – to make an informed decision.

That is where I come in. We need to know a few details – not a biography – but some information about you, what you are buying, how long you plan to keep the property, how do you feel about risk and a few other details to help you make a better decision. Did you know that penalties can be very different from one lender to another or that a variable mortgage can be less risky than a fixed rate mortgage? Let’s take a few minutes and make sure you don’t save a few bucks every month and then end up paying that and a lot more a few years down the track.

Less than 20% down More than 20% down
1 yr Fixed 6.93 *6.69* 6.93
2 yr Fixed 6.37 *6.04* 6.37 *6.29*
3 yr Fixed 5.51 *4.94* 5.71 *5.34*
4 yr Fixed 5.52 *5.09* 5.52 *5.34*
5 yr Fixed 4.89 5.62 *5.34*
7 yr Fixed 6.09 6.09
10 yr Fixed 6.14 6.14
5 yr closed Variable 6.00 6.24 *6.00*

– Prime is 6.95%

– Lenders may charge 0.10% rate premium for a 30 year amortization

– Rates in *  * have conditions

– Currently, we are generating slightly lower rates on approval

Newly Built Home Exemption

The Newly Built Home Exemption reduces or eliminates the amount of property transfer tax you pay when you purchase a newly built home.To qualify, the property must be newly built. The buyer must be: and the property must: You may qualify for a partial exemption, if the property:


First Time Home Buyers Exemption

First Time Home Buyers may qualify for exemption if: If the fair market value, excluding tax, is less than $500,000, a full exemption applies.If the fair market value is between $500,000 and $835,000 an exemption of $8,000 applies.If the fair market value is between $835,000 and $860,000 a sliding scale exemption applies.If the fair market […]


FTHBI program cancelled.

The FTHBI program will not be available as of March 21st. Please see the link below for more details. Link: https://www.canadianmortgagetrends.com/2024/03/cmhc-announces-an-end-to-its-first-time-home-buyer-incentive/