HSBC’s five-year fixed mortgage rate is very low, and represents a discount of 1.46 percentage points on the prime rate, which is currently 2.45 per cent. The prime rate is a benchmark interest rate used by lenders to determine the best interest rates for borrowers. The prime level is adjusted according to the Bank of Canada’s key interest, which mortgage rates has been at 0.25 per cent since late March.

HSBC’s latest announcement about mortgage rates for five-year fixed-rate borrowers at 0.99% was received with considerable interest by rate-shoppers. The rate was around 2.64% at the beginning of the year and had already dropped by 165 basis points in less than a year. The lowest rate on a one-year fixed-rate mortgage in Canada was 1.19%.

While HSBC’s latest rate cut is not a huge surprise, it is important to note that it’s a variable rate, meaning it could go up or down depending on what the central bank or HSBC decides to do. In addition, the interest rate on a five-year fixed-rate mortgage can be as high as 5.5% if the borrower fails to pay.

The 0.99% mortgage rate was the first Canadian lender to offer a fixed-rate five-year variable-rate mortgage. This low rate attracted considerable attention among rate-shoppers, largely due to the fact that it represents a 165-basis-point swing over the past year. Similarly, the lowest rate in Canada at the time of the HSBC announcement was 1.19% for a one-year fixed-rate.

The rate on a five-year variable-rate mortgage was at the lowest since mid-2017, but the company hasn’t beaten other lenders to it. HSBC’s five-year variable-rate has fallen from about 2.75% to 0.99%, which was a record low at the start of 2017. However, the sub-one-percent rate for a five-year fixed-rate mortgage in Canada has not been widely publicized, making it difficult for rate-shoppers to decide between fixed-rate and variable-rate options.

HSBC’s variable-rate mortgage is the lowest in Canada. In fact, it is the only Canadian mortgage rate that is below one percent. This is a great news for those who are concerned about the risk of losing their home to foreclosure. While a variable-rate mortgage is better than a fixed-rate mortgage, it is still not an ideal choice for everyone. It’s best to choose a variable-rate option based on your financial situation and financial needs.

HSBC offers a fixed-rate mortgage for people with a low credit score. This rate is usually higher than the rate on a fixed-rate mortgage with a higher down payment. This is also a good thing for newcomers to Canada because it means that you can save money over time on your monthly payments. HSBC’s introductory rates are the lowest rates in Canada.