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The Best Mortgage Rates in Hamilton

You'll find the best mortgage rates in Hamilton on RateSupermarket.ca below.
We compare over 500 mortgage rates in one search from the top lenders including the big banks, credit unions, specialty lenders and different mortgage brokers. You can be sure you're getting the best mortgage rates and saving money.

Best Mortgage Rates Hamilton

Best Variable Closed Mortgage Rates

Company Rate Term Offers & details Get details
3.00% 1 Year CASH BACK with our Discount Real Estate Commission program Get Rate
2.80% 3 Years Get Rate
2.90% 5 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Variable Open Mortgage Rates

Company Rate Term Offers & details Get details
4.00% 3 Years Get Rate
3.75% 5 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Fixed Closed Mortgage Rates

Company Rate Term Offers & details Get details
4.40% 6 Month Get Rate
2.49% 1 Year Ranked #1 broker in Ontario!!!! Offered by Chartered Bank Get Rate
2.59% 2 Years Refinance and Purchases. High Ratio only. Get Rate
2.79% 3 Years Refinance and Purchases. High Ratio only. Get Rate
2.89% 4 Years Refinance and Purchases. High Ratio only. Get Rate
3.19% 5 Years Get Rate
3.77% 6 Years Get Rate
3.79% 7 Years Get Rate
4.12% 8 Years Get Rate
4.21% 9 Years Get Rate
3.79% 10 Years Get Rate
8.35% 25 Years Get Rate

Rates updated February 3, 2012 09:30:38

Best Fixed Open Mortgage Rates

Company Rate Term Offers & details Get details
6.20% 6 Month Get Rate
6.30% 1 Year Get Rate

Rates updated February 3, 2012 09:30:38

More About Hamilton

  • Population: 739,400 (Stats Canada 2009)
  • Unemployment rate 8% in 2010 and forecast to be lower in 2011.
  • Job growth expected to be supported by health and energy sectors.
  • Higher wages are forecast for 2010.
  • Migration will be the primary source of increase in population in 2011.

Hamilton Mortgage Rates Will Slowly increase in 2010

The CMHC best case scenario, expect mortgage rates will continue to slowly increase in 2010 with a one year mortgage rate to be in the 3.6 to 4.8% range and the three and five year mortgage rates to be in the 4.2 to 6.7% range. In 2011, CMHC forecasts that the one year mortgage rate will be in the range of 5.0 to 6.0% whereas, the three and five year mortgage rate will be in the range of 5.6 to 7.2%. However, if the economy recovers at a faster rate than expected, mortgage rates may increase at a more rapid rate.

Hamilton 2010 Housing Outlook

The CMHC believes that MLS sales will reach 13,600 units in 2010 and starts reaching 3,000 units. New listing will increase by 4% with over 18,000 in 2010. However, the listing growth is expected to slow in 2011. Home prices are expected to rise 8% to $315,000 in 2010 and a 3% increase is forecast for 2011.

CMHC Hamilton housing market & Hamilton mortgage rate forecast

Census Metropolitan Area Total Housing
Starts
MLS sales MLS average
price
Mortgage rates
(1 year)
Mortgage rates
(5 year)
2009 1,860 12,680 $290,946 - -
2010 (F) 2,925 13,600 $315,000 3.60-4.80% 4.20-6.70%
2011 (F) 2,625 12,600 $324,000 5.00-6.00% 5.60-7.20%

Source = CMHC
MLS = Multiple Listings Service
*Last updated January 2010.