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Want proof that our rates are lower?

Recently, one of Canada's three large mortgage insurers shared rates data with us on completed mortgages. The data allowed us to see exactly how we stack up against the competition.

We couldn't be prouder of the striking results. On average, our rates are 0.15% below the competition. On a $300,000 mortgage, that results in saving of $450 per year, after-tax. 

These numbers are a direct comparison between THINK Financial and the rest of the market. THINK Financial is our exclusive lending arm. In 2016, it was created by True North Mortgage to allow us to offer even lower rates. The majority of our deals are now funded by THINK. The only way to get a THINK Mortgage is through us. 

Since the Federal Government adjusted the mortgage rules in 2016, rates needed to tailor to each mortgage situation. Factors like credit score, property price and downpayment ratio can impact the final rate. These additional factors make it harder for consumers to look at posted rates and be confident they are comparing apples-to-apples. 

As brokers, we knew that THINK rates were better, but it's nice to have 3rd party evidence to back it up.

 

2018 Q3

2018 Q4

2019 Q1

2019 Q2

2019 Q3

True North

3.27%

3.44%

3.32%

2.84%

2.57%

Everyone Else

3.47%

3.59%

3.38%

2.99%

2.77%

 

0.20%

0.15%

0.07%

0.15%

0.20%