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Many Albertans apply for a mortgage with just one lender, often their bank, without shopping around without realizing that competition always results in the best deal.
We will survey the market and search dozens of mortgage lenders to find the best rates in Canada. This FREE unbiased service ensures that you will receive low mortgage rates and huge savings over the term of your mortgage:
 |
 |
 |
 |
|---|---|---|---|
| 3 years | 3.94 | 3.89 | $362.67 |
| 5 years | 4.19 | 4.99 | $9,584.37 |
| 7 years | 5.1 | 5.80 | $11,695.76 |
A mortgage calculator is a quick and easy way to calculate your mortgage payments.
Learn exactly how much you can afford to spend before you buy.
Why wait? Apply online today with our free mortgage application.
See how safe & simple applying online is by using the Alberta Equity secure mortgage form.
Are you a realtor, broker or financial planner with a website?
Do you need up-to-date Canadian mortgage rates displayed on your web page?
You can choose from over 200 free mortgage rate boxes to suit your web site. We also have many tailor-made rate boxes for existing real-estate companies and related websites.
Many Canadian's have asked, "When the bank of Canada lowers or increases prime does that mean fixed mortgage rates will move?"
The question is best answered by describing the differences between the two:
Prime Lending Rate: For most Canadian's this is what our major bank offers us for a line of credit or a variable rate mortgage. When the bank of Canada lowers or increase their over night target rate most lending institutions will follow suit. This is just a target rate that the banks aren't forced to follow. The Major banks and lenders in Canada will almost always follow this rate change and increase their prime lending rate. In most cases the Bank of Canada rate is much lower than the prime rate major banks offer. The prime lending rate in Canada is set by the Finance Minister and his/her staff.
Fixed Mortgage Rates: (3yr, 5yr etc): Funds for these products come from various sources. The majorities come from the Canadian Bond Market, life insurance funds and other investment funds. You can usually gauge an increase or decrease in fixed mortgage rates if you follow the Bond Market. Fluctuation in fixed mortgage rates has little or nothing to do with the Prime Lending Rate.
As you can see the Prime Lending Rate and Fixed Mortgage Rates have very little to do with each other. It is important to remember that changes in the Prime Lending Rate are usually indicative of the general state of the economy. Bonds rates and fixed mortgages usually follow these trends; this is where the general confusion started.
Note: You should receive professional financial advice when considering switching to a biweekly mortgage payment schedule.
AlbertaEquity.com is managed by Super Brokers Incorporated, a division of TMG The Mortgage Group. Our goal is to help you find the best mortgage rates (OAC) and lenders in and around Calgary, Edmonton, Lethbridge, Medicine Hat and Red Deer. Super Brokers is a proud member of the Better Business Bureau of Southern Alberta. Our mortgage application is secured by Equifax SSL from GeoTrust. Although every attempt is made to ensure accuracy, the information contained here should only be used as a guideline. Please speak to one of our mortgage brokers if you would like more information about our services. For questions or comments about our website, security practices or policies, call our web support line at 1-866-530-5541. To speak with a mortgage broker, call toll free 1-800-604-1864
