Mortgage rate comparison
Want to see how our rates compare to our competitors? Select a competitor below to see the Pine advantage in action.
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3-year
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5-year
5-year
This table was last updated on August 16, 2024 using data available on each respective institution’s website.
2-year
3-year
4-year
5-year
5-year
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See the potential savings with Pine
Competitive rates
We offer the most competitive rates in the country to our clients and are committed to working with you to get you the lowest rate possible.
Peace of mind from rate hikes
Upon approval you will receive a 120 day rate lock, but it doesn’t stop there. We also proactively ensure you get the lowest possible rate that we can offer you within that time period if rates drop.
Personalized solutions
Our team of experienced mortgage experts will work closely with our clients to conduct a discovery call and understand their unique financial situation. This allows us to tailor a mortgage solution that meets our client’s needs and goals.
Streamlined process
We pride ourselves on providing a seamless and efficient mortgage process all completed in the comfort of your home online, ensuring an easy and convenient experience for all our clients.
How it works
Apply online
Just click on 'Get started' located at the top right of our webpage to launch your application. With an easy-to-use online platform, you can start your home financing journey in less than 10 minutes.
Submit documents
Safely upload your identification and relevant supporting documents via our secure customer portal. This helps us understand your financial capabilities and tailor the best solutions for you.
Get approved
Get ready to make your housing dreams come true. Our skilled mortgage advisors will guide you through the optimal choices tailored to your specific financing requirements.
Closing
Congratulations, you've reached the final step of the mortgage process! This is where all the remaining paperwork gets signed and your mortgage funds are released.
Knowledge is power
For more detailed insights, our blog section is a treasure trove of resources. You'll find articles on everything from understanding mortgage terminology to tips on saving for a down payment and market updates. The more you know, the better prepared you'll be when it comes to making the big decision of buying or refinancing a home.
True North Mortgage Rates
True North Mortgage has carved out a niche in Canada's mortgage landscape over the past 15 years. Not just a brokerage, True North, through its in-house lender THINK Financial, offers a unique dual service. Whether you're dipping your toes into the property market or pondering a refinance, True North Mortgage has a blueprint tailored just for you.
The Art of Mortgage Rate Comparison
Why Rate Shopping Matters
Your mortgage rate is more than just a figure; it's the heartbeat of your loan's lifetime cost. Even a minor fluctuation in rates can lead to significant savings—or expenses—over the years. That's why it's smart to compare offerings, including those from True North and direct lenders like Pine.
Brokerage vs. Direct Lenders
True North stands out in the mortgage field with its broad selection and trust-inspiring reputation. Yet, sometimes, direct lenders like Pine, with mortgages as their core offering, might present more competitive rates. So, casting a wider net in your rate search can be beneficial.
True North's Fixed-Rate Mortgages: Your Financial Beacon
Predictable Payments
Choosing a fixed-rate mortgage from True North means your rate stays the same, simplifying your financial planning. This stability is ideal for those who value a predictable financial future.
Term Flexibility
True North offers a range of term lengths for fixed-rate mortgages, allowing you to find a mortgage that fits your life plans, whether you're settling in or considering a move.
Rate Comparison
True North's rates are competitive, but it's wise to compare them with other lenders. An online check can help you see how True North stacks up against the competition.
Locking in Your Rate
True North allows you to lock in a rate for a certain period, giving you time to search for your perfect home without worrying about rising rates.
True North's Variable-Rate Mortgages: For the Market-Savvy
The Variable Rate Journey
With a variable-rate mortgage from True North, your interest rate can change with the market. This could work in your favor when rates drop, but it's important to stay prepared for the possibility of increases.
Starting Off on the Right Foot
Variable rates often start lower than fixed rates, which could mean immediate savings. This is particularly attractive if you're expecting a stable or falling rate environment.
The Option to Switch
True North is known for its flexibility. If the market starts to feel too unpredictable, they offer the option to switch to a fixed rate, giving you a chance to stabilize your payments.
Weighing Risks and Rewards
Variable rates can be beneficial, but they're tied to market trends. They may only suit some, especially if you have fixed financial commitments.
True North Mortgage's 5-Year Fixed Mortgage Rate: The Balanced Choice
The Charm of the 5-Year Term
In Canada, the 5-year term strikes a chord with many. It's a sweet spot that offers a steady rate and a commitment time that's short enough, yet long enough. This period is often accompanied by attractive rates, adding to its popularity.
Steady Rates, Steady Mindset
True North Mortgage's 5-year fixed mortgage brings stability to the forefront. Your interest rate stays the same, ensuring your payments are the same month after month. It's like having a financial guide for the next five years.
Rate Competitiveness
True North Mortgage is known for its appealing rates on 5-year fixed mortgages. But it's still a good idea to shop around. Direct lenders like Pine might have offers that could catch your eye, thanks to their more focused business models.
True North Mortgage's 5-Year Variable Mortgage Rate: For the Economically Bold
The Lure of Initial Savings
Starting with a 5-year variable rate usually means a lower rate than the fixed option, which can mean more money in your pocket right away. However, it's important to stay aware that variable rates move with the market's ups and downs.
Watching the Economic Climate
If you're leaning towards a variable rate, remember that your rate can change with the economic winds. Sometimes, even if your payment amount doesn't change, more of it could go towards interest, not your home equity.
Flexibility to Change
True North Mortgage stands out for its flexibility. If you find the variable market too wild, they let you switch to a fixed rate during your term. Just keep in mind, the new rate might not be the lowest out there.
Understanding the Risks and Rewards
Variable rates can be appealing, but they're not for everyone. They fluctuate, and that can be tricky to manage if you're not comfortable with uncertainty in your financial planning.
Decoding Mortgage Rates in Canada
Grasping Mortgage Rates
Think of mortgage rates as the cost of borrowing money for your home. In Canada, you typically pay back your loan over 25 years, and the 5-year term is a common choice because it offers a balance between long-term stability and flexibility.
The Fixed vs. Variable Rate Drama
In the mortgage world, you have fixed rates, which don't change, and variable rates, which can go up or down with the market. This means your payments could change over time with a variable rate.
What Influences Rates
Many things affect mortgage rates, like the economy, the Bank of Canada's benchmark rate, and credit score. Lenders use these factors to decide what rates to offer you.
The Canadian Mortgage Stress Test
If you're getting a mortgage in Canada, you might go through a mortgage stress test. It's a way for lenders to ensure you can handle a higher rate if rates go up. It's like a safety check to make sure you can afford your mortgage in the future, no matter what happens in the market.