On the heels of my The Truth About HSBC’s 0.99% Mortgage Rate and Setting the Record Straight About HSBC Canada videos, in today’s video I talk quickly about whether HSBC’s record breaking 0.99% mortgage rate is right for you.

The gist of it is this mortgage isn’t right for everyone. It is an insured mortgage that requires the borrower to pay for mortgage insurance. We are also hearing that it is a CMHC only mortgage which means borrowers won’t qualify for what they would if the mortgage was being insured with Sagen (formerly Genworth Financial) or Canada Guaranty.

Further, clients need to be comfortable with a variable rate and maintaining that strategy for the long hall as the penalties associated with a big bank fixed rate can be very high.

The Truth About HSBC’s 0.99% Mortgage Rate – https://youtu.be/uIhRr2-OOkw
Setting The Record Straight About HSBC Canada – https://youtu.be/1fC29DXlrdc

The presenter has taken great care in preparing
this video, however makes no representations or warranties with
respect to the accuracy or completeness of its content. The contents
of this video should not be considered a substitute for
professional financial advice. Please consult a financial professional
before implementing any of the strategies described in
this video. The presenter shall not be held liable
for any loss of profit or any other financial damages, including
but not limited to special, consequential, incidental, or other
damages.

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