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


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  #11  
Old 2008-06-04, 01:00 PM
gumby gumby is offline
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Quote:
Originally Posted by gill2k View Post
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.
We currently have a variable OPEN (not closed ) at prime -0.75% so it is at 4.0% right now with ScotiaBank. I like an open mortgage better since I am not locked into any limits. If prime is lowered then my rate will be even lower. I have had both variable and fixed rates and found that variable always give me a better return.
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  #12  
Old 2010-04-07, 08:12 PM
PAT9 PAT9 is offline
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BMO is offering 3.95% for 5 year fixed mortgage; 20% lump sum payment + 20% increase in monthly payments are also part of their offer.
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  #13  
Old 2010-04-13, 08:41 PM
Tara Wilkins Tara Wilkins is offline
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RBC is hiking its 5 Year Fixed - posted rate in the morning to 6.16%.

Get your rates saved!

Tara Wilkins
TD Canada Trust
tara.wilkins@td.com
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  #14  
Old 2010-04-14, 08:16 AM
newhomeowner20092009 newhomeowner20092009 is offline
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I am currently sitting on a HELD rate of 3.7 fixed 5 year or a 2% variable RBC
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  #15  
Old 2010-04-15, 11:37 PM
Tara Wilkins Tara Wilkins is offline
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You can get a better variable rate then 2% right now...that is a great 5 Year fixed rate though!

Tara
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  #16  
Old 2010-04-16, 08:34 AM
newhomeowner20092009 newhomeowner20092009 is offline
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What are the going Variable rates out there then?
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  #17  
Old 2010-04-16, 10:39 AM
audiorichard audiorichard is offline
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Quote:
Originally Posted by newhomeowner20092009 View Post
What are the going Variable rates out there then?
For variable rate, go ING direct, it is P-0.5%=1.75%
For fixed rate, your 3.7% is pretty good at this moment, even some people get as low as 3.5% from CIBC few weeks ago before the interest rate rise.
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  #18  
Old 2010-04-26, 12:08 PM
Tara Wilkins Tara Wilkins is offline
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The variable rates are still very attractive right now. Some people out there are definitley getting Prime - .50% from institutions.

Last edited by Tara Wilkins; 2011-04-12 at 07:41 PM.
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  #19  
Old 2010-04-26, 01:37 PM
newhomeowner20092009 newhomeowner20092009 is offline
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RBC is offering 1.75 variable..
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  #20  
Old 2010-04-26, 08:07 PM
desislava desislava is offline
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We just closed at 5 yrs fixed rate at 3.75!
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