HSBC Mortgage RatesRates updated:
Below you will find current HSBC's posted 5-year fixed and variable mortgage rates. Use Ratehub.ca's comparison chart to evaluate other banks, brokerages and lenders against HSBC and ensure you get the best mortgage rate!
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HSBC mortgage rates overview
Content last updated: June 11, 2020
HSBC Canada is the Canadian arm of HSBC, one of the biggest banks in the world. HSBC Canada has offices in every province, other than PEI, and employs over 6,000 employees. Among its many retail banking products, HSBC has a large mortgages division, and HSBC mortgages rates are some of the most competitive rates in Canada.
How do HSBC mortgage rates compare with other banks?
While HSBC is not one of the Big Five banks, it has a large mortgage division with very competitive rates. You can check the rates table above to see the current HSBC mortgage rates. Remember the best way to get the right mortgage for you is to go one step further and compare rates from multiple lenders. We make this simple, by comparing mortgages rates from the big banks, mortgages, and smaller lenders.
HSBC mortgage products
HSBC has a wide range of mortgage products, which you can discuss in depth with either an HSBC mortgage agent or an independent mortgage broker. Here is a quick summary of the three largest HSBC mortgage products.
- HSBC Traditional (Residential) Mortgage: This is the main HSBC retail mortgage product, offering mortgages with both fixed and variable rates. The HSBC traditional mortgages also offer flexible pre-payment options, allowing an increase in regular payments of up to 20% or a 20% lump sum prepayment of the original mortgage amount.
- HSBC Equity Power Mortgage: This mortgage product allows you to use your mortgage to access the equity that you've built-up in your home. This can give you access to a cash lump sum for a big purchase, like a renovation or university tuition. It might also allow you to consolidate other debts you are carrying into your mortgage.
- HSBC Home Equity Line of Credit: HSBC's home equity line of credit, or HELOC, offering is another way to access equity in your home. A HELOC lets you access equity with a revolving line of credit attached to your mortgage.
Accessing HSBC mortgage rates
To inquire about one of the HSBC mortgage rates in the table above, you can speak with an HSBC mortgage agent directly, or speak to an independent mortgage broker. The benefit of speaking with a mortgage broker is you'll also be given information about similar products and exclusive rates from other lenders, which helps you get the best deal possible. Mortgage brokers are also independent experts and can give you advice specific to your situation.
More about HSBC Canada
While it doesn't rank as one of either the Big Five or Big Six banks in Canada, HSBC Canada is the seventh-largest bank in Canada. HSBC is the largest foreign-owned bank in Canada, being a subsidiary of the British-owned parent company, HSBC (The name HSBC is an initialization of the older company name, the Hongkong and Shanghai Banking Corporation). HSBC Canada was formally known as the Hongkong Bank of Canada (HBC).