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'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.
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.
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.
|Bank or Lender||Variable Rate Mortgage||Fixed 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|
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.