Manulife (TSE: MFC) is a Canadian insurance and financial services provider located in Toronto, Ontario. WIth over $1 trillion in assets under management, they are one of the largest financial institutions in Canada. Manulife was incorporated as "The Manufacturers Life Insurance Company" in 1887 by the parliament. This act was headed by Canada's prime minister at the time, John A. Macdonald, and Ontario's lieutenant-governor, Alexander Campbell. They provide a diversified portfolio of financial services to customers with insurance, retail banking, mortgages, wealth management products sold globally. Manulife currently employs 35,000 employees and serves over 30 million customers globally. They provide many unique financial products to serve their large customer base.
Manulife Bank's Prime Rate is used as the basis for many of Manulife 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.
Manulife 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|
|3 Months’ Interest||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.