5-Year Mortgage Calculator is an online personal finance assessment tool to calculate monthly repayment, total repayment and total interest cost on the principal borrowed. The loan amount and interest rate are the key terms of 5-year mortgage to calculate the necessary repayment details.
Five-year adjustable rate mortgages, or ARMs, have historically carried lower baseline interest rates than the common 30-year fixed-rate mortgage. Since 2005, rates for the 5/1 hybrid have tracked the decline of the 30-year fixed-rate, with initial rates for the adjustable averaging 0.71 points lower than fixed-rate mortgages.
The pattern for 5-year Canada bond yields and 5-year fixed mortgage rates are pretty similar. This is because when bond yields are high, the mortgage rates will also be high. To meet the demand for bond yields, the lenders run short of finances for their mortgage program.
Use our rate table below to compare five-year fixed rate first-time buyer mortgages. You can refine the results to suit your loan-to-value by adjusting the ‘property value’ and ‘I need to borrow’.
Excellent Credit Mortgage Rates The average 30-year fixed mortgage rate has dipped to 4.57%. The lowest expected loss rate would come from someone with an excellent credit score and very low LTV. For example, imagine a borrower.