| Term | Bank Rate | Our Rate |
| 1 Year | 7.74 % | 5.94 % |
| 2 Year | 7.34 % | 4.79 % |
| 3 Year | 6.94 % | 4.44 % |
| 4 Year | 6.74 % | 4.39 % |
| 5 Year | 6.79 % | 4.14 % |
| 7 Year | 7.10 % | 5.09 % |
| 10 Year | 7.25 % | 5.34 % |
TRANSCRIPT OF VIDEO BLOG: Hi, everybody. It’s Rowan Smith with Citywide Mortgage Services. The question I’m here to answer today is how do you minimize your mortgage penalties? The short answer is…you have to pick your lender very carefully. Now, on a variable‑rate mortgage, uniformly across the board, it’s essentially a three‑month interest penalty. However,
TRANSCRIPT OF BLOG: Hi, everybody. This is Rowan Smith from City Wide Mortgage Services. There was an announcement today that OSFI ‑‑ which is the Office for the Superintendent of Financial Institutions ‑‑ has released a report of some studies they’ve been doing that makes it look like they might be tightening mortgage rules further.
Do mortgages exist that have no penalty but a guaranteed rate. The short answer is yes, but the reality is that they are not a product you want. This video blog goes into this type of mortgage and answers the question for Canadians: “Can you have your cake and eat it too in the mortgage
