Mortgage Rates Now....

[Asian_defender]

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?

[dj_rice]

I was going to do a 2 year fixed. But with how much I owe left, I might try variable

[Disoblige]

Variable most likely; I have one renewal coming up this year too.

[Asian_defender]

Anyone getting better than 2.45 so far?

[schurchill39]

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.

[dandia89]

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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.

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 round

[Xtrema]

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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 round

http://business.financialpost.com/re...ition-heats-up

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%

[Manhattan]

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.

[msommers]

Mine is coming up for renewal in October...

Currently on 3.05% variable

2.45 looks amazing right now

[Xtrema]

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Mine is coming up for renewal in October...

Currently on 3.05% variable

2.45 looks amazing right now

Let's hope this rate will spill over into June so you can lock it at that rate.

[SilverRex]

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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.

I think another good size recession is due between 2019-2021

[Aleks]

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http://business.financialpost.com/re...ition-heats-up

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%

He's saying the fixed 5 year rate the banks are giving out are about 1% above variable.

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.

[andyg16]

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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.

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.

[Xtrema]

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He's saying the fixed 5 year rate the banks are giving out are about 1% above variable.

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.

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.

[kenny]

HSBC just dropped theirs to 2.39%

[benyl]

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HSBC just dropped theirs to 2.39%

bah! just early renewed one of our Condos at 2.45% or prime -1.15%. I should go back and make them match it!

[Jerms]

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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!

You got this rate on a rental property? Hot damn!

[Masked Bandit]

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.

[Brent.ff]

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

[Buster]

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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

Variable