My Rates

6 Months 3.34%
1 Year 3.19%
2 Years 3.19%
3 Years 2.96%
4 Years 3.34%
5 Years 3.19%
7 Years 4.24%
10 Years 4.39%
6 Months Open 6.70%
1 Year Open 4.45%
*Rates subject to change and OAC
Scott Davies Mortgage Agent

Scott Davies

Mortgage Agent

15-40 Vogell Road, Richmond Hill, Ontario







As an experienced mortgage professional, it is my job to get you the mortgage you need at the price that you deserve.  I work on your behalf and have access to over 25 different lenders. Let's together to get you the right mortgage. Call me for today's unpublished rates!

BLOG / NEWS Updates

The Auto-Renewal Ripoff.

We as Canadians are generally a polite, loyal and trusting bunch. Sure we may bargain as best as we can when we first get that mortgage, GIC or Insurance Policy because the representative is in front of us providing the financial solution we need. However, something happens to us when a renewal notice is sent to us in the mail. We look at the renewal notice and wonder if we should cash out that GIC and invest in something more lucrative than the minimum interest rate the bank is paying. Or we think that we should shop for a better rate on that mortgage or insurance. However the renewal date is far away and we have work, family and other issues to worry about right nowso the renewal notice is filednever to see the light of day again. The next notice you get is the financial institution gleefully notifying you that because they didnt hear from you, they renewed your product at the same old rate and locked you in for an extended term. Translation; We win. You lose. And were not talking a paltry sum here. Lets say your GIC is $10,000.00 and the banks renewal is for two years at 1%. If youd cashed out of the GIC and invested in the many stocks, bonds or ETFs that historically return 5%, the difference is $800.00 over the two years! If you keep investing that $800.00 in higher yield vehicles over the years, the difference could be hundreds of thousands of dollars more for your retirement. Of course, some people prefer the security of a Guaranteed Investment Certificate. Fair enough, but forgetting a GIC renewal date means you settle for a posted rate and you could be missing a percentage point and a half annually on longer terms by not contacting an Advisor. By forgetting a mortgage renewal date you could be looking at a posted 6 month closed interest rate at least 2% higher than a negotiated 1 year term. Ignoring a term insurance policy renewal letter and you could be paying over double the premium you should be paying especially if you are healthy. Financial institution advertising is great. The message is always, We put you first. Its a great message, but the truth is the opposite. That customer service representative is really a company employee doing the best they can to contribute to the companys bottom line. They have sales quotas, performance reviews and their compensation depends on making the most possible for the company, often at the expense of the customer. Their agenda is to do the best they can for themselves. Yours should be the same. During these hard economic times, there is just too much at stake to let financial institutions take control over your money. If you are not the abrasive type, or simply do not have the time, have a financial planner or mortgage broker who has access to many financial institutions, shop and negotiate for rates on your behalf. Its your financial future, dont let others decide how it is going to look.

Mortgage Renewing? The Bank is Ready for You. Are You Ready for the Bank?

The new mortgage rules that the government put into effect on October 17, 2016 has reduced sales and lowered Real Estate values in the Toronto area for 2017. Most news media has focused on thenew home buyers reduced purchasing power by the introduction of the rate stress test.My article focuses on the homeowner who already has a mortgage and think that the changes do not affect them. Your mortgage is up for renewal and you arrange a meeting with your branch advisor to discuss renewal.Your branch advisor informs you that the mortgage rates have gone up and the best renewal rate that they can give you is1 percent higher than your current rate.You dont follow rates that closely but you do know that the Bank of Canada has raised their rate by only a half percent since you last negotiated your mortgage.So what has happened?Yourrate has gone up because the rules have changed and your negotiating power has been reduced. Under the old rules, a household with an annual income of 100 thousand without any other monthly debt could qualify for a mortgage of about $475,000.00*.Under the new rules, that same family would only qualify for a mortgage of about $368,000.00. These new rules also apply to anyone wishing to shop their mortgage to other lenders. So if you are offered a higher interest rate at your renewal date, your lender is telling you that they dont think you will qualify under the new rules and you are stuck with them. Seems like a little bit of dirty pool since your lender knows exactly how they qualified you for your mortgage in the first place. Being a loyal customer is no longer a reason for a lender to bend on interest rates. Presenting a competitors special interest rate in a newspaper ad or on your cellphone will do little sway theinterest rate they will offer you. So what can you do? Consult a mortgage professional before you meet with your lender.A quick conversation will tell you what current lenders are offering and how you stand when it comes to the new qualifying criteria so you can determine if your lender is playing hardball with you. If you are offered a great rate then congratulations is in order. There is no better feeling than dealing with an institution that you can trust.If you are unhappy, hopefully you discussed a Plan B with your mortgage professional. -SD If you have renewed your mortgage in the last 6 months, please share your experience. Did your financial institution treat you fairly?


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