This Weeks Rates:
Insured:
- 5-year fixed: Starting at 3.94%
- Variable: Starting at 3.54%
Insurable:
- 5-year fixed: Starting at 3.94%
- Variable: Starting at 3.69%
Conventional:
- 5-year fixed: Starting at 4.19%
- Variable: Starting at 3.95%
CMB:
- 5-Year: 3.01%
- 10-Year: 3.59%
In this inaugural episode of the Close More Deals podcast, host Scott Dillingham from LendCity Mortgages shares valuable insights for realtors on growing their business through better mortgage strategies. Drawing from years of coaching Realtors® on special programs, rates, terms, and conditions, Scott emphasizes how understanding mortgage nuances can help close more deals. He kicks off with a rundown of current rates, noting that all figures are time-sensitive and subject to change. For insured mortgages (less than 20% down), the lowest 5-year fixed rate is around 3.69%, with variables starting at 3.45%. Insurable mortgages (20% or more down, with lender-backed insurance and 25-year amortization) mirror these at 3.69% fixed and 3.69% variable in some cases, while uninsurable options (like 30-year amortizations) start higher at 4.24% fixed and 3.95% variable, based on verified market data as of November 2025.
Scott stresses the pitfalls of defaulting to a client's bank for pre-approvals, which can limit options and reduce borrowing power. He contrasts this with using an experienced mortgage broker who accesses multiple lenders for optimal terms. Examples include how some banks factor 3% of credit card limits (even if balances are zero) into debt calculations, artificially lowering pre-approval amounts—e.g., $30,000 in limits could add $900 in phantom payments. Brokers avoid this by selecting lenders that only consider actual owing amounts, maximizing client qualifications. Similarly, child tax benefits vary: some lenders use only 30-50%, while others allow 100%, leading to vastly different pre-approval figures.
Wrapping up this quick weekly update aimed at five minutes or less, Scott encourages realtors to refer clients to experts like his team at LendCity for strategy calls. This approach not only secures better rates and terms but also builds client trust, ultimately helping realtors close more deals.
Key Takeaways
- Insured Mortgage Rates: For purchases with less than 20% down, lowest 5-year fixed at 3.69% and variable at 3.45% as of November 2025—ideal for first-time buyers but includes CMHC fees.
- Insurable vs. Uninsurable Options: Insurable (20%+ down, 25-year amortization) offers rates like 3.69% fixed and 3.69% variable; uninsurable (30-year amortization) starts at 4.24% fixed and 3.95% variable for greater flexibility.
- Avoid Bank Defaults: Sending clients to their bank limits pre-approvals due to restrictive policies; brokers compare lenders to optimize qualifications and rates.
- Credit Card Debt Impact: Some lenders calculate 3% of full limits (e.g., $900 on $30,000 limits) even if paid off, reducing borrowing power—brokers select ones that only factor actual balances.
- Child Tax Benefit Variations: Lenders differ in usage (30%, 50%, or 100%), affecting pre-approval amounts; choose accordingly for maximum leverage.
- Broker Expertise Benefits: Access to multiple lenders ensures best terms, educates clients, and shifts preferences away from banks for better outcomes and more closed deals.
Links to Show References
- LendCity Mortgages (for Strategy Calls and Pre-Approvals): lendcity.ca
- (00:03) - Welcome to Close More Deals
- (02:27) - Understanding Mortgage Rates
- (03:03) - The Importance of Experienced Lenders
- (04:50) - Maximizing Client Pre-Approval
Show Resources:
We would love to partner with you for your referrals.
Have your clients Book A Free Strategy Call Here!
Or,
We do this to help you grow. Please share with a friend!