Rates in Canada Just Don't Compare
What do BMO, Royal Bank, TD, CIBC and Bank of Nova Scotia all
have in common?
|“These big banks top mortgage rates are
over 1% higher than many best rates available on the market.
Even worse, they’re a full 2.14% higher than the best
available interest rate in Canada.”
When it comes to financing your home and getting
the best mortgage rates possible, these banks don’t even
come close. It’s very surprising that people would even
consider coming to these banks if you look at how poorly they
compete to attract your financing. With mortgage rates at record
breaking lows it’s easy to jump in to a mortgage with one
of the larger banks. Their marketing and advertising budgets put
them front and centre and because they have so many more people
walking through their doors, it’s clear they can afford
to charge more. Their profits seem to come first. However, when
you’re looking for home financing that makes sense, and
that can save your hundreds of dollars every month, and tens of
thousands over a 5 year term, you owe it to yourself to strive
for the best rates you can get.
In a recent survey of interest rates for Canadian banks, trust
accounts and lending institutions, it became very clear that BMO,
Royal Bank, CIBC and TD have no interest in giving their consumers
a break. Taking a look at the mortgage rate survey it became clear
that most of the big bank mortgage rates were all in line with
each other. Somehow it’s a little like the gas companies
where they’re watching each other every minute. It seems
like an unwritten rule. What this means to you, the consumer,
is that if you’re serious about getting the best bang for
your buck - - you must look at your alternatives. Here is what
the recent mortgage survey uncovered.
|Bank of Nova Scotia
When you look at companies like ING Direct, Home Trust Company
and FirstLine Mortgages you can see an immediate gap between the
big banks and the more aggressive lending institutions.
|Home Trust Company
|First Line Morgages
|First National Finance
The difference between traditional lending institutions with
their 5.79% mortgage interest rates compared to some of the second
best rates at 4.34% is 1.45%. That’s a huge difference.
It means saving potentially hundreds of dollars per month off
your mortgage payments (depending on the size of your mortgage).
It also means saving tens of thousands of dollars over a 5 year
term. Imagine if you could knock another 0.75% or more off the
above best rates and 2.14% off the traditional bank mortgage rates.
Now you can!
Take a look at our current rates:
The best mortgage rates in the industry by a huge
margin are available for you right now.
At first look, it’s quite surprising to see such a dramatic
difference between the top banks and the second level mortgage
companies and lending institutions. It’s even more surprising
to see a company offer interest rates this much better than all
And if you ask yourself, is this too good to be true –
the answer is no. Sutton Member Program is working in conjunction
with Finder Financial Services Ltd to bring these new low level
interest rates to the market. Due to Sutton Group’s massive
real estate success and sales volume throughout Canada we’ve
been able to structure an amazing partnership that is geared towards
giving Sutton Group clients and agents a major advantage.
If you’re seriously in the market for a new home or condo
and want to save hundreds of dollars every month give Kevin Lynch
of Sutton Group West Coast Realty a call. He’ll answer your
questions and help you take the steps you need.
Simply call Kevin Lynch at 604-986-9321
in the day. If you want more information, or want to apply for
your financing after hours, you can email him your request at