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  #611  
Old 2012-01-21, 01:32 PM
MortgageGuy MortgageGuy is offline
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Default 5 or 4 yr and and Experts on Call today at 2pm

If it was me if I would take a 5 yr over a 4 yr. One more year of peace of mind very little difference in rate.

Just a heads up that I will be on CFRA 580 Experts on call today(Saturday) at 2:00pm
Would be happy to answer your mortgage questions while on the air
613-521-8255
Dan
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Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
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  #612  
Old 2012-01-28, 05:10 PM
MortgageGuy MortgageGuy is offline
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Default away notice

Just a heads up that I will have only occasional access to the forum until Feb 4th. Will catch up with you all upon my return. As of today no change in rates.
Dan
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
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  #613  
Old 2012-01-29, 02:21 PM
xdarrylx's Avatar
xdarrylx xdarrylx is offline
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Default

Quote:
Originally Posted by MortgageGuy View Post
Just a heads up that I will have only occasional access to the forum until Feb 4th. Will catch up with you all upon my return. As of today no change in rates.
Dan
Check your email! haha...
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  #614  
Old 2012-01-29, 07:48 PM
DarrenHD DarrenHD is offline
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Default

Quote:
Originally Posted by MortgageGuy View Post
Just a heads up that I will have only occasional access to the forum until Feb 4th. Will catch up with you all upon my return. As of today no change in rates.
Dan
FYi, I talked to BMO about their 5 year fixed rate 2.99 mortgage, and they also offered 5 years of free premium banking for me (>$800 value) and also free banking for my wife.

In the end I ended up going with ScotiaBank though, they fully matched BMO's offer and terms, including the free banking. The Scotia branch is right next to my new house so it's more convenient.

I'm ok with the restrictions on the mortgage terms, and a no-frills mortgage is good for me in my situation. I like the 2.99 5 year fixed rate - some peace of mine for me, at least for 5 years.

Just some advice to everyone, play the banks off each other and get them to compete - they will eventually match or beat other banks offers, but you may have to threaten to walk away first before they eventually give you the offer you want.
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  #615  
Old 2012-02-05, 10:37 PM
MortgageGuy MortgageGuy is offline
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Default Back in town

Just a heads up that I will have an update on rates tomorrow(Monday) and will get it posted.
Regarding Darren's note, whatever choices you make, you have to be happy. So by Darren taking the Scotia package with restrictions, he is content. Can't knock him. Its a good deal. I still though do not believe in restrictive terms to get a minor discount in rate. You can get 3.15% 5 yr fixed today, with full prepayment privileges, and no closed clause. Free banking.....is available to everyone at PC Financial or ING. I have been a customer of PC Financial, NO everyday banking fees, free cheques, for likely 10 years now, never been happier. No restrictions, or conditions tying me to anything. So just be aware that there are options out there, but in the end you have to be happy.
Dan

Quote:
Originally Posted by DarrenHD View Post
FYi, I talked to BMO about their 5 year fixed rate 2.99 mortgage, and they also offered 5 years of free premium banking for me (>$800 value) and also free banking for my wife.

In the end I ended up going with ScotiaBank though, they fully matched BMO's offer and terms, including the free banking. The Scotia branch is right next to my new house so it's more convenient.

I'm ok with the restrictions on the mortgage terms, and a no-frills mortgage is good for me in my situation. I like the 2.99 5 year fixed rate - some peace of mine for me, at least for 5 years.

Just some advice to everyone, play the banks off each other and get them to compete - they will eventually match or beat other banks offers, but you may have to threaten to walk away first before they eventually give you the offer you want.
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
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  #616  
Old 2012-02-05, 11:21 PM
DarrenHD DarrenHD is offline
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Join Date: Jan 2012
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Default

Quote:
Originally Posted by MortgageGuy View Post
Just a heads up that I will have an update on rates tomorrow(Monday) and will get it posted.
Regarding Darren's note, whatever choices you make, you have to be happy. So by Darren taking the Scotia package with restrictions, he is content. Can't knock him. Its a good deal. I still though do not believe in restrictive terms to get a minor discount in rate. You can get 3.15% 5 yr fixed today, with full prepayment privileges, and no closed clause. Free banking.....is available to everyone at PC Financial or ING. I have been a customer of PC Financial, NO everyday banking fees, free cheques, for likely 10 years now, never been happier. No restrictions, or conditions tying me to anything. So just be aware that there are options out there, but in the end you have to be happy.
Dan
Dan what's your outlook on mortgage rates? the last jobs report was poor, looks like CDN economy is not doing that great, although USA is showing some improvement.
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  #617  
Old 2012-02-06, 07:31 PM
MortgageGuy MortgageGuy is offline
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Default Current Rates Feb 6th, 2012 and article

So it looks like the long term 4 and 5 year terms could be moving upwards as Royal Bank, is the first to make increases, see link below to Globe Investor
http://bit.ly/xD6JUx
My best
5 yr is 3.19% closing in 90 days H/R
5 yr is 3.24% closing in 120 days
4 yr is 2.99% 120 day closing

You can also now follow me on twitter @MortgageMoneyca
For complete rates see my web page
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
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  #618  
Old 2012-02-06, 07:41 PM
MortgageGuy MortgageGuy is offline
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Default Outlook

Hi Darren, even with this recent little bump in rates, I expect that with the economy as it is, one negative thing after another, rates should still remain down for the near future at their current levels. I will be surprised if they move lower, more expect them to move slightly in the range they are now. When Bof M did their 5 yr 2.99% special, it was for a limited time, and as their specials time limit expired, looks like anyone trying to match has stopped, thus the slight increase coming that will likely be followed by most banks.
I am still of the mindset, take advantage of them while they are low, even the 10 yr at 3.89% is very attractive, and if it was me taking on a large mortgage, I would be jumping at this. Any term longer than 5 yr can be paid off at anytime after the 5th year with only a 3 month interest penalty, NO interest rate differential. Food for thought!
Quote:
Originally Posted by DarrenHD View Post
Dan what's your outlook on mortgage rates? the last jobs report was poor, looks like CDN economy is not doing that great, although USA is showing some improvement.
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070

Last edited by MortgageGuy; 2012-02-06 at 07:45 PM. Reason: added info
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  #619  
Old 2012-02-14, 12:16 PM
MortgageGuy MortgageGuy is offline
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Default Mortgage and RRSP article/video

Found this on Globe Investor.com an interesting perspective on Mortgage and your RRSP
http://t.co/ElU3laUw
This is the time of year to decid what you should do with all that hard earned money you have saved up
Remember, no one cares more about your money than you!
Just so you know, when you see an odd link as I have above, it is completely safe, goes directly to the article. There is a web site called "Bitly" that allows us to take the very long links and shorten them so that they take up less space when using twitter.
Have a great day,
Dan
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
Reply With Quote
  #620  
Old 2012-02-17, 12:32 PM
MortgageGuy MortgageGuy is offline
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Join Date: Jul 2008
Location: Ottawa, Ontario
Posts: 1,041
Default Weekend Mortgage Rates Feb 17th

No change in rates from last week, there has been some pressure in the last two days in the Bond Market, and have seen some movement in the 5 yr fixed rates upwards, but still have good rates.
Summary of current mortgage rates…
10 yr 3.89%
7 yr 3.89%
5 yr 3.19% 90 day closing(High Ratio only)
1 yr 2.75%
see my web site www.mortgagemoney.ca for complete rate listing.
Just did my first Blog entry on secured L/c's...at
http://mortgagemoneyca.blogspot.com/
and hope to do more rambling there in the future.
Have a great weekend,
Dan
__________________
Dan Faubert
Ottawa-Carleton Mortgage Inc.
Brokerage Licence # 10419
dan@mortgagemoney.ca
www.mortgagemoney.ca
https://www.fb.com/OttawaMortgageMoney
"Great Mortgage Rates"

613-222-2624 anytime
Off 613-563-5070
Reply With Quote
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