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Mortgage Poll

Which way do you think interest rates will trend in the next 6 months?

Up more than 1% - 11.6%
Up slightly - 30.1%
No change - 36.5%
Down slightly - 13.4%
Down more than 1% - 1.9%
Don't Know - 3.4%

Total votes: 2531
The voting for this poll has ended on: April 1, 2022
Integrated Mortgage Planners - GTA - Toronto

Week of January 30, 2023

This five-year fixed-rate mortgage is offered at 4.49%.   

Closed Five-year Fixed Rate

  • Eligibility: Available to borrowers who are purchasing a property for less than $1 million and who are putting down less than 20%, or more than 35%, of the purchase price . 

  • Rate Hold: This rate can be held for up to 120 days.
  • Use of Funds: Available for purchases on owner-occupied properties.

  • Prepayment Flexibility: Borrowers can make additional lump sum payments of up to 20% of their original balance throughout each year of their mortgage term and can also increase their regularly scheduled payments by up to 20%.

  • Maximum Purchase Price: $999,999.

  • Maximum Amortization Period: 25 years. 

  • Penalty Terms: This mortgage comes with a penalty that will be the greater of three months' interest or interest-rate differential (IRD), and the IRD penalty is calculated using contract rates. (This is the Standard Method that I refer to in my blog post explaining how fixed-rate mortgage penalties are calculated).

  • Portability: This mortgage is portable, provided that both transactions occur within 30 days of each other.

Here is an illustration of what a $300,000 mortgage will cost:

  Monthly Payment Opening Balance Interest Paid Over Term Balance at Renewal

Five-year Fixed-rate Mortgage at 4.49%

$1,659 $300,000 $62,871 $263,346

If you would like to see what your mortgage payments would look like if you took advantage of this offer, try my mortgage calculator.

If you want to learn more about the powerful impact making extra payments can have on the long-term cost of your mortgage, check out my post called The Magic of 5%

To ensure that you don't miss out on this offer, call or This email address is being protected from spambots. You need JavaScript enabled to view it. today.