I have my mortgages up for renewal this year. BMO and TD are duking it out at 2.45% on variable
What are people getting/doing for those that have their renewals due this year? Still variable or fixed now?
I have my mortgages up for renewal this year. BMO and TD are duking it out at 2.45% on variable
What are people getting/doing for those that have their renewals due this year? Still variable or fixed now?
I was going to do a 2 year fixed. But with how much I owe left, I might try variable
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Variable most likely; I have one renewal coming up this year too.
Anyone getting better than 2.45 so far?
I'm a sucker for punishment and I went with another 5 year fixed as of May 1 at 3.19% I was very surprised to see how much the rates have gone up over the last few years.
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that's pretty good, i'm only leaning to variable since my bank is only giving me 3.6% fixed 5 year. Might have to go through a broker for this roundThis quote is hidden because you are ignoring this member. Show Quote
http://business.financialpost.com/re...ition-heats-upThis quote is hidden because you are ignoring this member. Show Quote
You don't have to go to broker to get 2.45%, both BMO and TD just went there, they even beat HSBC's 2.49%
Considering that inflation hovers around 2% your 2 point whatever mortgage is basically free money. Enjoy it while it lasts. Rates are going to be much higher 5 or 10 years from now unless there's another financial collapse.
Mine is coming up for renewal in October...
Currently on 3.05% variable
2.45 looks amazing right now
Ultracrepidarian
Let's hope this rate will spill over into June so you can lock it at that rate.This quote is hidden because you are ignoring this member. Show Quote
I think another good size recession is due between 2019-2021This quote is hidden because you are ignoring this member. Show Quote
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He's saying the fixed 5 year rate the banks are giving out are about 1% above variable.This quote is hidden because you are ignoring this member. Show Quote
The question is do you believe the rates will go up 4 times over the next 3-5 years. If not, the current variable is a good deal over the fixed.
Exact same thing happened to me, just signed last week for our new place. 3.2% 5 years fixed. At that time variable wasn't as low as they're offering now, so we figured a couple more rate hikes and we'd be paying more if we went with variable. Oh well, it is what it is.This quote is hidden because you are ignoring this member. Show Quote
With that much of a differential, it's worth the risk. Especially if you have cash on hand to throw it at the mortgage to offset extra interest cost of a raise.This quote is hidden because you are ignoring this member. Show Quote
HSBC just dropped theirs to 2.39%
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bah! just early renewed one of our Condos at 2.45% or prime -1.15%. I should go back and make them match it!This quote is hidden because you are ignoring this member. Show Quote
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You got this rate on a rental property? Hot damn!This quote is hidden because you are ignoring this member. Show Quote
Just re-signed last month for prime -1.1%. Don't know what the actual rate is, it's going to move so I don't worry about it too much. I always like to use a broker, same or better rates than an bank, better service and an little guy gets paid, everyone wins.
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Up for renewal and not sure to stick with fixed or go to variable. Suspect the BOC won’t dare bump it higher, but wtf do I know
VariableThis quote is hidden because you are ignoring this member. Show Quote