There's a new all-time low in Canadian mortgage rates.@canwise has launched a 5yr variable at 0.85% for default-insured mortgages. That's a seductive 160 bps below prime rate.

With a rate of 0.85%, a record 80.9% of one's initial monthly payment goes towards principal.

— Rob McLister (@RobMcLister) November 28, 2021

It has to be that specific government backed insured mortgage

And it's Variable, in a year it could be 1.85% which would still be a fantastic deal BTW

It's a function of specific products and funding sources

— Ron Butler (@ronmortgageguy) November 28, 2021