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The Best Mortgage Rates in Kitchener-Waterloo

You'll find the best mortgage rates in Kitchener-Waterloo 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 Kitchener-Waterloo

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 Kitchener Waterloo

Here are some vital stats on the area:

  • Population: 489,100 includes Cambridge (Stats Canada 2009)
  • Job market expected to slowly repair
  • Employment to increase 1% in 2010
  • Wages to increase 2% in 2010 and an additional 2% in 2011
  • Net migration to reach 3,500 in 2010

Statscan 2009 Census

Kitchener Waterloo (KW) 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.

Kitchener Waterloo Housing Market Forecast

The CMHC believes that existing home sales will remain at strong levels throughout the Kitchener Waterloo area in 2010, but will moderate in 2011. Sales through the Kitchener-Waterloo Real Estate Board will increase 9% in 2010. A higher number of resale homes will be present in 2010. This trend will remain in 2011, even though prices growth will decelerate. Single starts will increase in 2010 as a result of a better economy, low mortgage rates, and low inventory costs. However, 2011 will see a decline due to higher mortgage rates, a decline in first time buyers and more choice in the resale market. Prices for new homes will increase to $372,000 in 2010 indicating a 2% increase.

CMHC Kitchener Waterloo area housing market & Kitchener Waterloo area mortgage rate forecast

Census Metropolitan Area Total Housing
Starts
MLS sales MLS average
price
Mortgage rates
(1 year)
Mortgage rates
(5 year)
2009 2,298 6,580 $269,552 - -
2010 (F) 2,750 7,150 $284,900 3.60-4.80% 4.20-6.70%
2011 (F) 2,700 6,600 $290,000 5.00-6.00% 5.60-7.20%

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