Laurentian Bank Mortgage Rates

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Laurentian

Laurentian Bank Background

Laurentian Bank (TSE: LB) is a Canadian schedule 1 bank that primarily operates in Quebec. They also have locations across Ontario, British Columbia, Alberta and Nova Scotia. The bank was founded in 1846 by 15 affluent people in Montreal Quebec and went public in 1965. Laurentian Bank offers a variety of commercial and retail financial products to support its customers. The bank currently employs over 4000 people and reports annual revenues over $1 billion. They are well known for their catered financial services, such as their cashback mortgage program.

Laurentian Bank Prime Rate

Laurentian Bank's Prime Rate is used as the basis for many of Laurentian Bank's lending products including variable rate mortgages, lines of credit, and HELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate.

Current Laurentian Bank Prime Rate: 2.45%

Last Changed: March 30, 2020

Laurentian Bank Fixed-Rate Mortgages

Laurentian Bank Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Mortgage Amount:
Amortization:
Payment Frequency:
TermRateMonthly Payment
1-Year Fixed
2.69%$1,833
2-Year Fixed
2.94%$1,884
3-Year Fixed
3.45%$1,992
4-Year Fixed
4.09%$2,131
5-Year Fixed
1.99%$1,693
6-Year Fixed
5.80%$2,529
7-Year Fixed
5.80%$2,529
8-Year Fixed
6.60%$2,726
9-Year Fixed
6.60%$2,726
10-Year Fixed
6.60%$2,726

The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.

Laurentian Mortgage Break Penalty

Variable Rate MortgageFixed Rate Mortgage
Greater of 3 Month’s Interest based on your current annual mortgage rate or the current prime rate.Greater of 3 Months’ Interest or the IRD amount
Interest Rate Differential (IRD) for Laurentian
Greater of 3 Months’ Interest based on Laurentian’s current posted interest rate for the mortgage’s original term or the sum of 1 Months’ Interest at your current mortgage rate (up to $500) and the amount repaid multiplied by the Residual Term multiplied by the Difference in Rates.

The Difference in Rates is the difference between Laurentian’s current posted interest rate for the term of the original mortgage and the Reference Rate.

The Reference Rate is the annual interest rate charged by Laurentian on the date of payment for a term closest to the Residual Term.

While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.

The calculators and content on this page are provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.