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Old 2008-09-24, 11:29 AM
MortgageGuy MortgageGuy is offline
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Join Date: Jul 2008
Location: Ottawa, Ontario
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Default prime -1% variable

Sorry Katherin and Chris,
new to this forum, not sure how to apply when there is not a "reply" button, so am trying the "quote button"
to clarify, NO discount off prime is worth it if the "bank" does not guarantee some form of discount when you lock in to a fixed rate. The banks know that when rates start to rise, MOST will lock in. That is why the banks are so keen to to push variable. They will NOT put in writing what discount you will get when you lock in. The best discount I know with a discounted lock in rate is prime less .70%.
Dan

Quote:
Originally Posted by Katherine&Chris View Post
Hello mortgage guy - Do you have any lenders who will offer a Prime -1 variable rate?
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