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LENDING RATES*
Investment Loans |
Rates are floating based upon a tiered formula as follows:
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Outstanding Loan
Balance/Original Loan
Amount ($) |
Wealth Builder Investment Loan |
| Regular Pricing (%) |
Mackenzie Preferred Pricing
(%) |
| $0 - 99,999 |
Prime + 1.25 |
Prime + 0.75 |
| 100,000 + |
Prime + 1.00 |
Prime + 0.50 |
| |
Outstanding Loan
Balance ($) |
2 for 1 Investment Loan |
| Margin Call |
No Margin Call |
Regular
Pricing (%) |
Mackenzie
Preferred
Pricing (%) |
Regular
Pricing (%) |
Mackenzie
Preferred
Pricing (%) |
| $0 - 49,999 |
Prime + 1.00 |
Prime + 0.50 |
Prime + 1.25 |
Prime + 0.75 |
| 50,000 - 99,999 |
Prime + 0.75 |
Prime + 0.25 |
Prime + 1.00 |
Prime + 0.50 |
| 100,000 + |
Prime + 0.50 |
Prime |
Prime + 0.75 |
Prime + 0.25 |
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| NOTES |
- MRS Prime: 4.75%.
- Mackenzie Preferred Pricing: clients with Mackenzie funds equal to or greater than their outstanding loan amount qualify.
- The interest rate charged on the Wealth Builder Investment Loan with interest only payments and the 2 for 1 Investment Loan is based upon the outstanding loan balance and fluctuates with changes in prime. The rate for the Wealth Builder Investment Loan with principal and interest payments is based on the original loan amount and fluctuates with changes in prime but not changes in the loan balance.
- Effective Feb.15, 2008, the interest rate will be increased by 0.50% for new paper applications.
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RRSP Loans and RESP Loans |
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| Term |
Rates |
| |
Mackenzie RRSP & RESP |
MRS RRSP |
| 1 - 2 year |
Prime - 1.00% |
Prime |
| 3 - 5 year |
Prime + 1.00% |
Prime + 1.00% |
| 6 - 10 year |
Prime + 2.00% |
Prime + 2.00% |
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NOTES
- Minimum loan amount is $1,000.
- Effective Feb.15, 2008, the interest rate will be increased by 1.00% for new paper applications.
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Residential Mortgages |
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| Terms |
Posted Rates |
| 6 month Closed |
5.50% |
| 6 month Convertible (any term,
5 year total) |
5.50% |
| 6 month Open |
6.05% |
| 1 year Closed |
5.75% |
| 1 year Convertible (any term,
5 year total) |
5.80% |
| 2 year |
5.90% |
| 3 year |
5.95% |
| 4 year |
6.00% |
| 5 year |
5.95% |
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NOTES
- New mortgages receive an automatic 0.50% discount off
any of the above terms.
- Maximum rate hold period is 120 days for new mortgages, and 45 days
for renewals.
- MRS rates for rental properties are 0.25% higher than the above posted
rates.
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Quick Pay Investment Loan |
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| Term |
Rates |
| 1 year |
Prime - 1.0% |
| 2 year |
Prime - 1.0% |
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*"Prime" refers to MRS Trust's prime rate which is variable and subject to fluctuation. If MRS Trust's prime rate changes during the life of the loan, MRS Trust may not necessarily adjust your monthly payment; consequently a balance may be due and payable at maturity. |
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| Effective: June 23, 2008 |
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