A popular mortgage solution

The Fixed Rate Mortgage provides the security of a highly competitive fixed rate over the full term of your mortgage and predictable payments.  Choose from a Closed Mortgage where payments above those regularly scheduled are restricted, or an Open Mortgage, where you have complete payment flexibility. 

Fixed Rate Closed Mortgage

  • Lowest guaranteed interest rate for the term of your mortgage
  • Protection from rising rates
  • Pay down up to 15% of principal each year on your anniversary
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The Fixed Rate Closed Mortgage is one of the most popular mortgage solutions we offer. It provides the security of a highly competitive fixed rate over the full term of your mortgage and predictable payments. And you have the option to save even more by making additional payments each year on your mortgage anniversary date.

This can be an ideal solution for first-time buyers who choose a long amortization period. Taking advantage of our fixed mortgage rates protects you from rising interest rates. A closed mortgage offers a better interest rate than an open mortgage and also allows you to lock in for longer terms (up to 10 years).

Term6 months to 10 years
Payments
  • Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow
  • Up to 15% of the original principal can be paid down each year on the mortgage anniversary date
  • Scheduled payments can be increased, on an ongoing basis, by up to 15% once each calendar year
RateLocked in for the term of the mortgage
AmortizationUp to 25 years (standard); longer amortizations available - talk to your advisor
FinancingUp to 80% of the value of your property; up to 95% if insured by a third party such as CMHC

 

Fixed Rate Closed Mortgage*Rates
6-Month
7.75%
1-Year
6.29%
2-Year
5.14%
3-Year**
4.69%
4-Year**
4.69%
5-Year**
4.69%
7-Year
5.39%
10-Year
5.59%

Fixed Rate Open Mortgage

Guaranteed rate with full payment flexibility

  • Guaranteed interest rate for the term of your mortgage
  • Protection from rising rates
  • Additional payments at any time without charge
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Our Fixed Rate Open Mortgage gives you the security of a fixed rate over the full term of your mortgage, combined with the ability to make extra payments at any time without a fee. You are protected from rising interest rates but still enjoy a competitive rate.

A fixed rate mortgage is ideal if you believe interest rates are going to go up. An open mortgage is a smart choice if you anticipate that you will have additional money (e.g. inheritance, commissions, etc.) to apply to your mortgage.

Term6 months or 1 year
Payments
  • Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow
  • Increase payment frequency or amount, or pay off your mortgage completely without a fee
RateLocked in for the term of the mortgage
AmortizationUp to 25 years (standard); longer amortizations are available - talk to your advisor
FinancingUp to 80% of the value of your property (up to 95% if insured by a third party such as CMHC)

Fixed Rate Open Mortgage*Rates
6 Month
8.99%
1 Year
8.99%

Have a question? Ask an Expert

Adam Franklin
Financial Advisor
Mutual Funds Investment Specialist

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