At just 1.25%, intelliMortgage’s new one-year fixed is officially the lowest contracted mortgage rate in Canada, ever! (Source: RateSpy.com)
At 1.25%, a whopping 73% of each mortgage payment goes directly to paying down principal. Compare that to just 52% allocated to principal, based on the lowest widely available rates last February.
Long story short, Canadians have never had a term that pays their mortgage down quicker. Moreover, a one-year term provides maximum flexibility and penalty avoidance in the event you want to move, refinance or discharge sooner than expected.
For all the details, contact us anytime.