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Our Best Home Mortgage Rates Toronto – Fixed & Variable



Variable Rate - High Ratio Insured Special - rate could change at any time

1 Year

2 Year

3 Year Fixed Insured 120day rate hold

4 Year Fixed

5 Year Fixed Mortgage Insured Special - rate can change at any time close by January 17th 2020

7 Year Insured 120 day rate hold

10 Year Insured 120 day Rate hold This could be your last mortgage ever!

Variable Rate Open (line of credit)

Our lowest mortgage rates change frequently as we often receive short-term rate promotions daily. These promotions are never posted online. Meet with one of our Mortgage Agents to get the best mortgage solution for you!

Special Mortgage Rates

  • 10 Year Fixed Rate Special 3.04% Insured Your last mortgage ever
  • 5 Year Variable rate mortgage Insured at Prime – 1.10% (3.95%-.1.00%= 2.90%)
  • Open line of Credit at Prime + .50% (4.45) – some conditions apply

Many of our rates can be guaranteed for up to 4 months! This means if you secure a mortgage in April, the rate is guaranteed until August

If you are buying a home (in Canada) now, or switching from a current lender, you can secure these rates NOW by contacting us today.

Rates subject to change without notice and OAC Some Conditions Apply

Mortgage Rates

When mortgage rates change, it can happen quite quickly. So when it comes to mortgage, timing is everything. Be sure to secure your loan while rates are favourable in order to get the best deal possible. Also, if you are looking to buy a home or you are thinking about changing from your current lender, you’ll want to do your research before you make any final decisions.

Remember, all mortgages aren’t created equal, so it’s important to compare mortgage rates and to go with a company that you trust. The terms and conditions of mortgages vary, as do the interest rates. A mortgage should be set up to fit your needs as much as possible. We want to equip you with the knowledge you need to make the best decision.

What is an open mortgage?

An “open-term mortgage” is an appealing option to those who plan on paying off their mortgage sooner rather than later. This type of mortgage can be repaid fully or partially at anytime without prepayment interest fees. If you want to convert them to another term, you are able to do so at anytime again without prepayment interest fees. The interest rates for open mortgages tend to be higher than those of closed mortgages because they have such flexibility.

What is a closed mortgage?

A “closed-term mortgage” is the common choice for people who aren’t planning to pay off their mortgage in the near future. The interest rates for closed term mortgages tend to be lower than that of open mortgages. With closed term mortgages, you’re able to save on interest costs and hopefully this will help you to pay your mortgage back quicker. Fixed or variable options are available for closed term mortgages but there’s a restriction on the principal amount that you can pay towards our mortgage each year.

If you want to renegotiate your rate, you will need to pay a prepayment charge. In addition, you will need to pay this prepayment charge, if you want to pay off the balance of your mortgage before the end of the term or if you want to prepay more money than your mortgage will allow you to.

Prepayment Charges

With prepayment charges you have the flexibility to increase your monthly payments or to pay the whole thing off. Contact our team of experts to find out more about prepayment options.

Comparison: Variable vs. Fixed Mortgage Rates

Fixed Mortgage Rates

More than 50% of Canadians have fixed mortgage rates, which means the monthly payment stays the same over the full term. You are protected against fluctuating interest rates, so it can set up and you don’t have to worry about it. If you want stability – this is the best option for you.

Variable Mortgage Rates

With a variable mortgage, your rates are typically lower but they will vary over the term. Your payments will be based on market behaviour and this will have an affect on how much you are paying. The amount that you are paying will change over time.

What We Offer:

At Northwood Mortgage, our dedicated and knowledgeable staff are able to provide you with our best mortgage rates.

Call us today at 1-888-492-3690 for more details.

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For your Free Insurance Consultation or Email Us: info@northwoodmortgage.com

Today’s Special Rate:
2.7% Variable

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