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 | 2.04% |
2.12% |
| 3 year Fixed Closed | 2.39% |
2.44% |
| 5 year Fixed Closed | 2.29% |
2.32% |
| 10 year Fixed Closed |
2.84% |
2.86% |
| 5 year Variable** Closed | 2.05% (HSBC Prime Rate -0.40%) |
2.08% |
| 2 year Fixed Closed | |
| Mortgage Rates***
|
2.04% |
| APR* |
2.12% |
| 3 year Fixed Closed | |
| Mortgage Rates***
|
2.39% |
| APR* |
2.44% |
| 5 year Fixed Closed | |
| Mortgage Rates***
|
2.29% |
| APR* |
2.32% |
|
10 year Fixed Closed |
|
| Mortgage Rates***
|
2.84% |
| APR* |
2.86% |
| 5 year Variable** Closed | |
| Mortgage Rates***
|
2.05% (HSBC Prime Rate -0.40%) |
| APR* | 2.08% |
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**** | 3.20% HSBC Prime Rate + 0.75% |
| Home Equity Line of Credit**** | |
| Mortgage Rates***
|
3.20% HSBC Prime Rate + 0.75% |
| Term | Rate |
|---|---|
| 6 months | 7.25% |
| 1 year | 6.35% |
| Term | 6 months |
|---|---|
| Rate | 7.25% |
| Term | 1 year |
| Rate |
6.35% |
| Term | Rate |
|---|---|
| 6 months | 3.19% |
| 1 year | 2.49% |
| 2 year | 3.29% |
| 3 year | 3.79% |
| 4 year | 4.19% |
| 5 year | 4.94% |
| 7 year | 5.64% |
| 10 year | 6.24% |
| Term | 6 months |
|---|---|
| Rate |
3.19% |
| Term | 1 year |
| Rate |
2.49% |
| Term | 2 year |
| Rate |
3.29% |
| Term | 3 year |
| Rate |
3.79% |
| Term | 4 year |
| Rate |
4.19% |
| Term | 5 year |
| Rate |
4.94% |
| Term | 7 year |
| Rate |
5.64% |
| Term | 10 year |
| Rate |
6.24% |
| 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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* The annual percentage rate (APR) is based on a $200,000 mortgage for the applicable term assuming a property valuation fee of $300. APR means the cost of borrowing for a loan expressed as an interest rate. It 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. Applications are subject to credit review and approval. This rate is only available for Residential (Conventional) and Equity Power Mortgages, a higher interest rate may apply in circumstances, but not limited to the following: the property is not owner-occupied, the amortization is greater than 25 years, and the debt service ratios exceed HSBC’s standard lending guidelines.
** 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 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 Home Equity Line of Credit 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 In order to qualify for HSBC Premier you must have an active HSBC Premier chequing account, and meet at least one of the following eligibility criteria:
• Total Relationship Balance of $100,000 (CAD) or more, or
• Total Mortgage Amount of $500,000 (CAD) or more, or
• Total Monthly Income Deposit of $6,500 (CAD) or more plus confirmation of $100,000 or more in deposits and/or investments in Canada
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 available at any HSBC Bank Canada branch or online at www.hsbc.ca.
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 maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $5,000 or hold personal HSBC Bank Canada residential mortgage with original amount of $150,000 or greater. 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 available at any HSBC Bank Canada branch or online at www.hsbc.ca.