Rate Scoop

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APR Disclosure:
Posted Rates
1 year 6.29% = 6.40% APR
2 year 6.19% = 6.24% APR
3 Year 6.19% = 6.23% APR
4 Year 6.19% = 6.22% APR
5 Year 6.59% = 6.61% APR

Special Rates
5 Year Special 5.79% = 5.81% APR (High Ratio and Fixed Closed)

The Annual Percentage Rate (APR) is based on a $300,000 mortgage, 25 year amortization, for the applicable term and the fee to obtain a property appraisal of $325 (fees vary from $0 to $455). If there are no fees, the APR and interest rate will be the same. APR is rounded to two decimal places.

Terms and Conditions
GIC:
Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

GIC interest rates expressed on this website are annual interest rates and current as of today’s date.

Mortgage:
On approved credit, rates are subject to change without notice. Quoted rates are based on blended payments of principal and interest. Interest is calculated half-yearly, not in advance. Additional premiums may apply in cases of a refinance, amortizations greater than 25 years, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with motusbank Prime Rate, which is currently 5.95%. Where applicable, the Bank of Canada qualifying rate is 5.25%. Builder's pricing applies to posted rates, not to promotional or special rates.

A High Ratio mortgage applies when you have a down payment of less than 20% to put toward the purchase of a home. Refinances, renewals and amortization periods of greater than 25 years are ineligible.

Upcoming rate changes

1 Year Non-Redeemable GIC - Non-Registered | Registered

18 Month Non-Redeemable GIC - Non-Registered | Registered

2 Year Non-Redeemable GIC - Non-Registered | Registered

4 Year Non-Redeemable GIC - Non-Registered | Registered

1 Year Fixed Closed Posted Rate

2 Year Fixed Closed Posted Rate

3 Year Fixed Closed Posted Rate

4 Year Fixed Closed Posted Rate

5 Year Fixed Closed Posted Rate

5 Year Fixed Closed Mortgage Special

5 Year Fixed Closed High Ratio Mortgage Special

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