To view current ATB mortgage rates, visit ATB.com. Under the Personal tab, select Resources. Click on Mortgage Rates to view the current mortgage rates. ATB offers closed fixed-rate mortgages for terms of one to seven years, and open fixed-rate mortgages for terms of six months to two years. ATB also offers open-variable rate mortgages. The rates on ATB's website may change without prior notice, and the company updates rates as it receives new information.
As of August 2013, ATB Financial began posting the mortgage rates that customers are actually responsible for should they take out a mortgage loan with the company. These loans, which the company designates as No Bull mortgages, offer borrowers a smaller prepayment fee, explains ATB Financial.
When a buyer breaks a mortgage loan before the term ends, he typically must pay a prepayment penalty, reports ATB Financial. In the case of a fixed rate mortgage, the lender determines this fee to be the equivalent of three months' interest or the interest rate differential, depending on which is the larger amount. When a lender determines these fees, it usually bases the calculations on the posted mortgage rates along with any borrower negotiated discounts. With a mortgage from ATB, the prepayment penalty is determined by the actual market rate, which is the same rate that ATB posts, allowing the borrower to save money on these fees.