Would You Like to Get the Best Mortgage Rates in Mississauga? We Are Here to Help You!

KANETIX is committed to offering the best service for all your mortgage requirements in Mississauga. Our website is the only one in the city of Mississauga where you will find, compare and secure the best rates online. You can browse the website to collect general information or secure a particular rate that interests you. We make it easy for you to secure the rate electronically without having to leave your home. You can use our comparison service completely free of charge to help you get the lowest mortgage rates available. You will find it easy to view and compare rates for various mortgage products offered by different mortgage brokers and lenders.

Click Here to View all Rates

If you want to acquire a mortgage in Mississauga, you are bound to be pleased with our competitive mortgage rates that we collect from various lenders and brokers. We have done this specifically for you.

Our mortgage information centre has a large database of information that will keep you abreast of the latest mortgage details. You will find comprehensive articles, some of which deal with news such as the one on new mortgage rules affecting the housing market in Canada. Other articles provide useful information such as the ones comparing life or mortgage insurance, providing tips on paying your mortgage sooner and tips for first-time home buying. We also have a mortgage glossary that will help you learn about new finance terms.

What's Unique about KANETIX?

Here are some of the things that make us different:

  • The best rates in Mississauga
  • A large database of mortgage products from many lenders and brokers
  • Fast, safe and secure
  • Let customers secure and buy their chosen mortgages online
  • Give customers mortgage guarantee certificates from the comfort of their homes
  • Experienced Mississauga mortgage agents who are ready to help customers
  • Free

What is a Mississauga Mortgage?

Mississauga is among the fastest growing cities in Canada that enjoy economic prosperity, which improves quality of life and standard of living. It is no wonder that many Canadians are choosing Mississauga as the city where they buy their first homes. The homes in Mississauga have a reputation for appreciating in value over the long term.

People who purchase homes in Mississauga often need mortgages to cover the difference between the purchase prices and down payments. Other residents in the city take extra equity from their existing homes in form of mortgages. They do this for a variety of reasons, including sending children to college, renovating their homes and paying off credit card debts.

People can use a variety of ways to purchase mortgages in Mississauga, including mortgage brokers, trust companies, credit unions, chartered banks and other designated lenders.

Mortgage rate refers to the interest charged on a mortgage loan. The money paid on mortgage is divided between the principal and interest. The money that goes towards paying the principal is the only one that lowers the mortgage balance.

What You Need to Know about Mortgage Loans in Mississauga

Many home buyers focus on low rates when choosing mortgage loans. While this is good, it should not be the only factor considered when choosing the best mortgage. Other important factors that will help you reach the best decision include:

  • Rate hold period: This refers to the duration within which a lender guarantees a rate. Mortgages with longer periods give better protection against rate increases.
  • Pre-payment limitations: Closed mortgages allow home buyers to make their annual payments at fixed percentages of their respective mortgage amounts and the possibility of increasing monthly payments by a given percentage. Higher percentage limits provide more flexibility.
  • Amortization Period: This refers to the period within which a borrower is required to complete repaying a mortgage. Personal circumstances will help to determine the best amortization periods for different borrowers.

How to Get the Best Mortgage Rate in Mississauga

KANETIX gives you the opportunity to easily compare Mississauga mortgage rates from different lenders and brokers. You will thus be in a good position to choose the best mortgage for you with the lowest rate. We also provide special discounted rates to the residents of Mississauga.

KANETIX understands that choosing the right mortgage can easily become overwhelming considering the various types of mortgages available in the market. We shop around on your behalf so you can compare mortgages without stress.

We have partnered with several mortgage brokers in Mississauga so we can offer our customers in the city the most competitive rates. Try our service to see for yourself how easy we have made it for you to secure the most ideal mortgage rate for you online.

Once you have compared different rates and made your choice, you only need to fill our short online application form to start the journey of owning your dream home. If you do not want to use the online application form, then call us and one of our professional partner mortgage agents will help you get what you want.

We give you the opportunity to compare different types of mortgage rates, including closed mortgages, open mortgages, variable rate mortgages and fixed rate mortgages.

You can make your classification by amortization, term, type of payment or type of rate. You also have the opportunity to view both lender and broker mortgage loans. The whole process takes just a few minutes, and it is FREE!

We give you the best tools and tips for making the best decision whether you want mortgage refinancing, mortgage renewal, first mortgage or second mortgage. Our Mississauga mortgage calculator will help you determine how your mortgage amount, payment frequency, amortization period and rate affect your repayment. You will know how much you need to pay using different methods.

You can find the best rates across Ontario! Check out our mortgage rate comparison service in Toronto, Ottawa and Oakville.

MISSISSAUGA HOUSING TRENDS

Sitting on the scenic shores of Lake Ontario in southern Ontario, the vibrant, charming town of Mississauga is bustling with activity and opportunity. The city is the sixth most populous in Canada, and it is home to over 700,000 residents. While some of these residents rent apartments or live in condos, there are over 230,000 single family dwelling units that are either rented out or occupied by the owner. Many people who have the desire to buy or sell their property are paying close attention to the real estate market in Mississauga in an effort to find the right time to make a real estate purchase or sale. While timing a market can be risky and complicated, the fact is that you can learn a lot about the local market with proper research.

New Housing Starts

Between 2006 and 2011 the number of existing homes in the local community increased by over nine per cent, and this trend is expected to continue in the coming years. It is important to note that new housing starts across the entire nation only increased by about seven per cent over this same time period. Therefore, the real estate activity for new home construction is more pronounced in Mississauga than in other areas in Canada. This housing growth in Mississauga seems to be keeping pace with the influx of residents into the area. Between 2006 and 2011, the city's population grew by almost seven per cent.

A Closer Look at Resale Transactions

Across much of the region, home sales decreased in the spring of 2012, but there has been a resurgence of resale transactions during the first and second quarters of 2013. This trend is expected to continue into 2014. This is a reflection of a generally positive outlook for the Mississauga economy as well as a projection for future job growth in the area. It is important to note that while there will be a positive trend in resale transactions, the growth is not anticipated to be exponential.

The Cost of a Mortgage

Mortgage rates in Canada remain near historical lows. As of June 2013, the rate for a 10-year fixed rate mortgage was 3.57per cent, about the lowest the rate has been over the last decade. However, it is important to note that rates are on a general upward track right now, and this trend is expected to continue, at least for the near future. The cost of a home mortgage has a direct impact on new home construction, home resales, and the cost of real estate. It will affect both supply and demand, and as the rate increases, there is a likelihood that the volume of transactions that are taking place in Mississauga right now will slow down considerably. While rates are expected to increase, the increase is expected to be gradual.

The Cost of Real Estate in Mississauga

According to the Canadian Real Estate Association, the demand for real estate from May to June in 2013 has increased. The number of residential listings from June 2012 to June 2013 has increased by over 2,500 units, and this represents growth of about 13 per cent. In addition, the amount of available inventory on the market in June 2013 reflects 2.4 months' supply. This is up from about 2.1 months' supply in June 2012. Furthermore, the average home price in Mississauga in June 2013 was approximately $486,000, and this represents a 3.1 per cent increase from June 2012. This rate of growth in real estate prices is considered to be moderate.

Population Trends

Mississauga has enjoyed modest population growth in recent years, and this trend is generally expected to continue. However, it is important to note that the economy in the city is expected to grow at a slower rate than the rest of Canada over the next year. Because of this, population growth in the area may continue, but the growth will be at a nominal pace. Population growth is a driving factor with regards to real estate demand and prices. A sharp increase in population growth generally may indicate a force driving up existing real estate prices. However, with the modest growth that the area is expected to benefit from in the coming year, the available inventory of resale homes coupled with the current rate of new construction homes is expected to keep pace with the demand of new residents moving into the area.

An Analysis of the Facts

Within the next year, the population growth in the area is expected to continue to increase at a slower pace. Both construction of new single family homes and resales of single family homes are also expected to continue. While interest rates are expected to rise, the rates should remain close to a historically low level. This generally slow increase in population coupled with a general uptick in mortgage interest rates is expected to keep demand for real estate in check. This will also help to keep the price of real estate from escalating at a steep rate. No factors are expected to become off balance in the real estate market, so a slow and steady increase in prices and demand is anticipated, making it a good time to buy property with the intention of selling it at a later date.

Mississauga is a large community with a very active real estate market. Many people have the desire to either buy or sell real estate for their personal investment or for their own residential living needs. Buying a new piece of real estate is a major investment, so it is important to take note of the local real estate market before making a decision to move forward with a transaction. This can help real estate buyers and sellers make wise decisions. However, timing the market can also be challenging and risky. Therefore, those who have plans to buy or sell real estate in the local Mississauga metropolitan area within the next year or so should expect relatively similar market conditions as are present now, but many factors may affect the actual real estate market over the course of a year.

Kanetix in Mississauga:
Mississauga Mortgage Rates
Mississauga Car Insurance
Mississauga Life Insurance

KANETIX's innovative mortgage rate comparison service is available Canada-wide! You can compare the best mortgage rates from top lenders and brokers in the province of Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Prince Edward Island.


Kanetix Mortgage App

Buying a home? The KANETIX Mortgage App helps you tally the numbers that count when it comes to home ownership.
  • Affordability calculator: work out how much of a mortgage you can carry.
  • Mortgage calculator: easily calculate your mortgage payments.
  • Mortgage rates: compare and call to secure fixed and variable mortgage rates.

Reminders & savings

Sign up for our free mortgage and insurance Renewal Reminder service or Newsletter for the latest news and money saving tips.

Email address