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Financing, Mortgages and Insurance What options are best for you and your situation?


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  #1  
Old 2008-05-14, 10:20 AM
LakesideB LakesideB is offline
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Default Best 5 year fixed rate?

I am in hunt for a good 5 year fixed rate. Whats the best 5yr rate anyone has been quoted? A real estate agent told me that their group in collaboration with ScotiaBank could do 4.75%. I am a bit skeptical of this. Will probably start making a few calls to get the best rate possible. Am curious to see what others have been quoted.
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Old 2008-05-14, 12:40 PM
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EvrGrn EvrGrn is offline
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Brokers are advertising 5.15% so you could probably do a bit better than that, 4.75% seems very low. Despite the recent interest rate cuts fixed rates haven't come down significantly. Hopefully that will change with the next rate announcement but right now a variable mortgage seems the most appealing.
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Old 2008-05-15, 09:34 PM
jesselender jesselender is offline
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Hi All

Our brokerage is now offering fantastic 5-year fixed rate mortgage at 5.09 %!!

Its a promotion. Please contact me ASAP to get this deal.

Also offering 5-year variable rate mortgage at Prime - 0.9%.

Jesse Li
Mortgage Specialist
Valueland Mortgages
(647) -280 2518 (Great Toronto Area)

Last edited by jesselender; 2008-05-20 at 07:01 PM.
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Old 2008-05-22, 05:25 PM
dindin dindin is offline
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5.09% is the best I've been quoted too. Anyone else has a better offer?
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Old 2008-05-22, 09:16 PM
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aulikh aulikh is offline
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Quote:
Originally Posted by jesselender View Post
Hi All

Our brokerage is now offering fantastic 5-year fixed rate mortgage at 5.09 %!!

Its a promotion. Please contact me ASAP to get this deal.

Also offering 5-year variable rate mortgage at Prime - 0.9%.

Jesse Li
Mortgage Specialist
Valueland Mortgages
(647) -280 2518 (Great Toronto Area)
Just wanna know for h long u can lock the fixed rate for 3 years and fixed rate for 5 years? As my house wud be closing in abt 10 months or so ....at the moment i'm gathering info on best rates offers...and when is the bet time for me to lock teh rate...

TC
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Old 2008-05-22, 09:50 PM
jeffjc jeffjc is offline
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canadian tire has 4.99 5 yr fixed and prime - .9 on 5 year variable
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Old 2008-06-02, 05:52 PM
prb prb is offline
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I'm currently offering a 5-year closed, fixed rate, at 5.45, but I can talk to lenders and see what they can do.
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Old 2008-06-02, 09:25 PM
BCC BCC is offline
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We were just approved last week for a five year fixed at 5.1, TD has already said they will beat it...it pays to shop them back and forth.
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Old 2008-06-04, 12:14 AM
gill2k gill2k is offline
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We're approved for a 4.4% variable closed for 5 years with RBC (builder's mortgage) but closing is not until October. Any chance the interest rates will go even lower? Being a first time homebuyer, I'm not too certain with a variable rate mortgage. I think I'll have more peace of mind with a fixed rate mortgage but 5% even is as high as I'll go.

Last edited by gill2k; 2008-06-04 at 12:17 AM.
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Old 2008-06-04, 09:50 AM
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EvrGrn EvrGrn is offline
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It is likely interest rates will be cut again next week, hopefully that will impact fixed rates a bit. If you do go for a variable shop around, you can do better than 4.4.
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