Rates

Mortgages

Mortgage 1 Year Fixed 2 Year Fixed 3 Year Fixed 4 Year Fixed 5 Year Fixed 5 Year Adjustable
Standard Mortgage Rate1 (Closed) 2.89% 3.24% 3.75% 4.29% 4.79% -
Eqb Evolution SuiteTM (Closed) 4.69% 3.94% 3.79% 3.64% 2.04% * P - 0.60% *

1Prepared by CANNEX Friday, August 7, 2020 11:01:56 AM. This information is current as of the date and time posted and is subject to change without notice. © Copyright 2020 CANNEX Financial Exchanges Limited. All rights reserved.

*Rate available to mortgages with borrower-paid mortgage insurance only. Contact your broker for more information on rates available to you.

Equitable Prime Rate (P) 2.45%

Equitable Prime Rate as of March 30th, 2020.

  • The Equitable Prime Rate (P) is the annual rate of interest that is established from time to time by Equitable Bank, at its discretion, as a point of reference.
  • Adjustable Rate Mortgages offer a variable interest rate that consists of the Equitable Prime Rate plus or minus an adjustment factor and varies automatically if and when the Equitable Prime Rate varies.
  • The interest rate for Adjustable Rate Mortgages is compounded monthly, not in advance, and charged monthly.
  • The interest rate for Fixed Rate Mortgages is compounded twice per year, not in advance, and charged at the same frequency as the payment frequency selected.
  • Rates are subject to meeting Equitable Bank's credit granting criteria and are subject to change without notice.
  • These posted rates are for reference only and are not guaranteed for any particular transaction. For details on how you can obtain the best rate please contact your broker.

Equitable Bank Reverse Mortgage

Mortgage 6 Month Fixed 1 Year Fixed 2 Year Fixed 3 Year Fixed 5 Year Fixed 5 Year Adjustable
Equitable Bank Reverse Mortgage Rate 4.49% 3.89% 4.29% 4.39% 4.49% P + 2.29%
Annual Percentage Rate (APR)3 6.16% 4.71% 4.66% 4.62% 4.60% 4.89%
Lump-Sum Reverse Mortgage Rate2 - 3.49% 3.59% 3.69% 3.79% P + 1.99%
Annual Percentage Rate (APR)3 - 4.32% 3.98% 3.93% 3.92% 4.59%

2 These rates only apply to certain transactions within Equitable Bank’s lending guidelines. Rates and conditions subject to change without notice.

3 APR means the cost of borrowing expressed as an annualized interest rate for the Interest Rate Term, based on the Initial Advance Amount, interest and any applicable fees. The APR figures above are based on the following:

  • A mortgage amount of $150,000 and the accumulated interest for the applicable interest rate term; plus
  • a set-up fee and a closing fee (varies by province); and
  • all funds drawn as an initial advance; and
  • no prepayments


Equitable Bank Reverse Mortgage Prime Rate (P) 2.45%
  • The interest rate displayed is dependent on the interest rate term selected in the drop down menu.
  • The Equitable Bank Reverse Mortgage Prime Rate (P) is the annual rate of interest that is established from time to time by Equitable Bank, at its discretion, as a point of reference.
  • An adjustable interest rate term consists of the Equitable Bank Reverse Mortgage Prime Rate plus or minus an adjustment factor and varies automatically if and when the Equitable Bank Reverse Mortgage Prime Rate changes.
  • Interest is calculated and charged daily based on the daily equivalent of a fixed or adjustable interest rate, compounded semi-annually (for a fixed rate) or monthly (for an adjustable rate), not in advance.
  • Rates are subject to change at any time without notice.