Would you like a 1% mortgage?

HSBC is offering a 5-year, variable rate mortgage at 0.99%.

It is variable in that it is based on a discount from the bank’s Prime Rate, which can vary. The actual formula for the mortgage rate is Prime Rate minus 1.46%. The current Prime rate is 2.45%, which produces the rate of 0.99%.

And if you would like more certainty, HSBC is also offering a 5-year fixed mortgage at 1.39%.

In all cases, certain terms and conditions apply.

Oh, yes, one other detail: these are the rates HSBC is offering in Canada.

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Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
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