We’ll help you choose the right combination of interest rate and term to help you reach your financial goals.
While we know that the interest rate is an important consideration, it shouldn’t be the only deciding factor. Features that allow you to pay your mortgage faster without fees or charges can be just as important when it comes to choosing the right solution for you.
An HSBC Mortgage can help make your house a home sooner.
| Mortgage Rates*** |
APR* | |
|---|---|---|
| 2 year Fixed Closed | 1.74% |
1.82% |
| 3 year Fixed Closed | 1.89% |
1.94% |
| 5 year Fixed Closed | 2.19% |
2.22% |
| 10 year Fixed Closed |
2.74% |
2.76% |
| 5 year Variable** Closed | 1.39% (HSBC Prime Rate -1.06%) |
1.42% |
| 2 year Fixed Closed | |
| Mortgage Rates*** |
1.74% |
| APR* |
1.82% |
| 3 year Fixed Closed | |
| Mortgage Rates*** |
1.89% |
| APR* |
1.94% |
| 5 year Fixed Closed | |
| Mortgage Rates*** |
2.19% |
| APR* |
2.22% |
|
10 year Fixed Closed |
|
| Mortgage Rates*** |
2.74% |
| APR* |
2.76% |
| 5 year Variable** Closed | |
| Mortgage Rates*** |
1.39% (HSBC Prime Rate -1.06%) |
| APR* | 1.42% |
Applications are subject to credit review and approval. A higher interest rate may apply in circumstances, but not limited to:
- The property is not owner-occupied;
- The amortization is greater than 25 years;
- The debt service ratios exceed HSBC’s standard lending guidelines.
| Mortgage Rates*** |
|
|---|---|
| Home Equity Line of Credit**** | 2.45% HSBC Prime Rate + 0.00% |
| Home Equity Line of Credit**** | |
| Mortgage Rates*** |
2.45% HSBC Prime Rate + 0.00% |
Offer is available to all new HSBC Home Equity Line of Credit applications that start between March 1, 2021 to October 2, 2021; subject to credit approval.
| Term | Rate |
|---|---|
| 6 months | 7.45% |
| 1 year | 6.35% |
| Term | 6 months |
|---|---|
| Rate | 7.45% |
| Term | 1 year |
| Rate |
6.35% |
| Term | Rate |
|---|---|
| 6 months | 3.19% |
| 1 year | 2.49% |
| 2 year | 2.74% |
| 3 year | 3.29% |
| 4 year | 3.74% |
| 5 year | 4.59% |
| 7 year | 5.64% |
| 10 year | 5.99% |
| Term | 6 months |
|---|---|
| Rate |
3.19% |
| Term | 1 year |
| Rate |
2.49% |
| Term | 2 year |
| Rate |
2.74% |
| Term | 3 year |
| Rate |
3.29% |
| Term | 4 year |
| Rate |
3.74% |
| Term | 5 year |
| Rate |
4.59% |
| Term | 7 year |
| Rate |
5.64% |
| Term | 10 year |
| Rate |
5.99% |
| Term | Prime Rate | US Base Rate |
|---|---|---|
| Rate per annum | 2.45% |
3.75% |
| Term | Rate per annum |
|---|---|
| Prime Rate |
2.45% |
| US Base Rate |
3.75% |
Building the right mortgage
Create your own mortgage solution by combining a term and interest rate that result in the right combination of features for your financial goals.
Choosing the right mortgage term
| Term | Advantages | Considerations |
|---|---|---|
| Short | Shorter terms typically have lower rates. You have the option to renew your mortgage more often, taking advantage if interest rates decline. |
You could find yourself having to renew your mortgage at a higher rate if interest rates increase. Short-term mortgages are advantageous if you foresee the opportunity to pay off your entire balance in the near future. |
| Long | Longer terms provide predictability and stability. |
Committing to an interest rate for a long period of time may make it more difficult for you to obtain a lower rate if rates drop over time. |
| Term | Short |
|---|---|
| Advantages |
Shorter terms typically have lower rates. You have the option to renew your mortgage more often, taking advantage if interest rates decline. |
| Considerations |
You could find yourself having to renew your mortgage at a higher rate if interest rates increase. Short-term mortgages are advantageous if you foresee the opportunity to pay off your entire balance in the near future. |
| Term | Long |
| Advantages |
Longer terms provide predictability and stability. |
| Considerations |
Committing to an interest rate for a long period of time may make it more difficult for you to obtain a lower rate if rates drop over time. |
Fixed or variable interest rates
| Rate | Advantages | Considerations |
|---|---|---|
| Fixed | Your payments will be the same every month. The amount of your payment applied to principal and interest will follow a pre-determined schedule. |
Fixed interest rate mortgages are ideal for homeowners who want predictable payments without the need to monitor interest rates. |
| Variable | Variable interest rates have traditionally lowered the cost of home ownership when rates are low and not fluctuating. |
If you are concerned that interest rates will rise quickly, you may consider a variable interest rate mortgage that can be converted to a fixed rate at any time within your current term. |
| Rate | Fixed |
|---|---|
| Advantages |
Your payments will be the same every month. The amount of your payment applied to principal and interest will follow a pre-determined schedule. |
| Considerations |
Fixed interest rate mortgages are ideal for homeowners who want predictable payments without the need to monitor interest rates. |
| Rate | Variable |
| Advantages |
Variable interest rates have traditionally lowered the cost of home ownership when rates are low and not fluctuating. |
| Considerations |
If you are concerned that interest rates will rise quickly, you may consider a variable interest rate mortgage that can be converted to a fixed rate at any time within your current term. |
How to apply
Start pre-approval application
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Rates are subject to change without notice and are applicable to First Mortgages only.
† The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term with the appraisal fee of $300 waived. APR includes all interest and some non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same. The variable rate is equal to HSBC Prime Rate -1.46%. The rate will change as HSBC's Prime Rate changes. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Mortgage Rates above are applicable to First Mortgages only. Some restrictions apply.
†† A High Ratio Mortgage is a personal mortgage with a down payment of less than 20% of the purchase price. Applications are subject to credit approval. Rate is only available for high ratio residential mortgages with default insurance, a higher interest rate may apply for non-owner-occupied properties, amortizations greater than 25 years, and exceptions to HSBC's standard lending guidelines. HSBC High Ratio Mortgage Rate Terms and Conditions.
* The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming an appraisal fee of $300. APR includes all interest and some non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same. This rate is only available for personal mortgages, a higher interest rate may apply for non-owner-occupied properties, amortizations greater than 25 years, and exceptions to HSBC's standard lending guidelines. Applications are subject to credit approval.
** Actual rate will vary depending on fluctuations to HSBC Prime Rate. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. Mortgage Rates above are applicable to First Mortgages only. Some restrictions apply.
*** Special offers are only available for owner-occupied properties with an amortization of 25 years or less. Rates apply to traditional and Equity Power Mortgages. Rates subject to change without notice.
**** Actual rate will vary depending on fluctuations to HSBC Prime Rate. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch. The HSBC Home Equity Line of Credit (the HSBC HELOC) is accessed through an HSBC Chequing account. HSBC Chequing account service charges may apply. Applicable service charges can be found in the Personal Service Charges Statement of Disclosure. The HSBC HELOC is secured with a registered collateral mortgage against your principal residence. The available limit will depend on the value of your property and any prior charges or liens. An appraisal fee of $300 per valuation may apply.
1 HSBC Premier requires you to have an active HSBC Premier chequing account, and either (i) personal deposits & investments totalling $100,000 or more; or (ii) hold a personal mortgage with an original amount of $500,000 or greater; or (iii) $6,500 minimum monthly income deposits; or (iv) you qualify for HSBC Premier in another country, OR achieve the thresholds noted in points (i) and (ii) above by combining you and your spouse or common law partner’s balances through our Household Qualification Program.
Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges Statement of Disclosure.
2Unlimited day-to-day banking includes cheques, withdrawals and deposits at HSBC Branches and ATMs in Canada, HSBC telephone and mobile banking (Canada), withdrawals at more than 2,500 ATMs on THE EXCHANGE®Network and Interac® debit purchases at retailers across Canada.
3 HSBC Advance requires you to have an active HSBC Advance chequing account, and either (i) maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $5,000 or more, or (ii) hold personal HSBC Bank Canada residential mortgage with original amount of $150,000 or more. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the conditions above. For full details regarding any fees which may apply please refer to the Personal Service Charges Statement of Disclosure.