The Best 6 Month Fixed Open Mortgage Rates
The Best Mortgage Rates in Ontario
|6 Month Fixed Open View All »||6.45% Scotiabank||6.50% Caisses Desjardins||6.70% Laurentian Bank Canada|
Ready to find your best mortgage rate?
To get started, tell us a bit about your location and borrowing needs - and we'll do the rest! Your personalized results will include the best rates from lenders and mortgage brokers, right in your region. Simply pick a product you like, and we'll put you in touch for more info by email, website or phone - no obligation or purchase required.
What is a mortgage broker - and why would I work with one instead of a bank?
Think of a mortgage broker as your personal mortgage shopper - they've got access to a number of rates offered by multiple lenders, and do the legwork to connect you with your best match. Brokers work with your unique financial institution, and will help negotiate the best rate on your behalf - best of all, their services are absolutely free!
Why Are These Rates So High?
People with short term open mortgages are paying for short term convenience over long term savings. When you have an open mortgage you may pay as much of the balance as you like without being penalized by your lender.
Spend, Spend, Spend
If you have an open mortgage you should take advantage of your freedom and spend as much as you can reducing the balance. This arrangement is ideal for mortgage shoppers expecting a large windfall of cash. You can always switch to a more reasonable rate when the mortgage term ends.
Don't Forget to Renew
You'd be surprised at how fast six months can go by. Sign up for our mortgage renewal reminder so you'll be ready to renew or find a different rate when the time comes.