Canadian Mortgage, GIC, and RRSP Rate Tables Updated Daily

[niteshk]

I was told their fees get tacked onto your mortgage.

That is incorrect. In most cases, a mortgage broker gets paid on a commission basis based on your mortgage amount...so they should not be charging you. The only time a mortgage broker may charge you fees is if it is a subprime mortgage and they are not being compensated by the lender. In all other cases, a good mortgage broker should not charge you for a straight forward deal.

[Transatlantique]

Too good to be true?

http://toronto.en.craigslist.ca/tor/for/2490152692.html

[jay2347]

Hello Everyone, I need your advice as to which one do you feel is better and why.

4 year fixed @ 2.45%
5 year variable @ Prime -0.9

I am leaning towards the fixed but since Bank of Canada said they not going to raise interest for the next 2 years, I am not too sure. I did some calculations and if BOC decides to raise rates by 0.5 after the 2 years, I still save 1k by going with the variable.

What are your thoughts,

Thanks in Advance

[JewelsT]

Hey Jay,
would you mind letting me know which bank is giving you those great rates?
I am too shopping for something similar. Please pm me.

[venice_2009]

Hello Everyone, I need your advice as to which one do you feel is better and why.

4 year fixed @ 2.45%
5 year variable @ Prime -0.9

I am leaning towards the fixed but since Bank of Canada said they not going to raise interest for the next 2 years, I am not too sure. I did some calculations and if BOC decides to raise rates by 0.5 after the 2 years, I still save 1k by going with the variable.

What are your thoughts,

Thanks in Advance

I think you have some excellent rates there, and I would be torn, too -- I have a similar situation (3.09 4-y fixed; P -.5 variable), but my spread is not as tight, which means I'm leaning more toward the variable, though our broker is urging us to take the fixed. In your case, I'd probably go fixed -- you've built in two rate increases after two years but it is likely there will be at minimum a couple more on top of that by your term's end. Can you PM me your lender info?

[ksparwez]

Could you give me your Brokers contact info. These rates seem good.

I am getting 2.49% 2 year fixed with Street Capital Financial. Should I worry about (hidden charges when renewing or switching) getting a mortgage from SCF??

Hello Everyone, I need your advice as to which one do you feel is better and why.

4 year fixed @ 2.45%
5 year variable @ Prime -0.9

I am leaning towards the fixed but since Bank of Canada said they not going to raise interest for the next 2 years, I am not too sure. I did some calculations and if BOC decides to raise rates by 0.5 after the 2 years, I still save 1k by going with the variable.

What are your thoughts,

Thanks in Advance

[PeterED]

Hello.

Can anyone recommend a website or send an spreadsheet template which would allow me to play around with different interest rates to see the difference between variable and fixed rates?

Thanks.

[hsedin]

Hi there, I locked in for a GIC back in 2006. Last month I came down to my bank to roll my money, and I was told that my GIC had made no interest. As far as I know, there is no possible way for it to have been left sitting without accumulating interest, and I said this to the bank manager after going over my account with one of the staff. He told me that my GIC investment made no money, and that they wanted me to roll my money again anyway. After a bit of arguing on my side, the manager offered me .1% payment on my last GIC out of "the goodness of his heart". This seems odd to me and I would like to know what the GIC rates were from 2006-2010 as well as 2007-2011, here in BC. I feel like my bank may be scamming me as my investment was a large one. Can anyone help me?

I would think that your GIC is not the generic, specific rate type GIC. Do you still have the documents with the fine print of your GIC? There are some GIC/Investment products that link to certain market index, and some have a minimum rate guarantee. It may appear that your GIC might have been linked to the market index entirely and therefore may not have gained in value (depending on the start and end date of your GIC). Was there a specific name of your GIC product? That may help other board members who may have had experience with the particular GIC product in helping you with your concerns.

[matt_yin]

Hello Everyone, I need your advice as to which one do you feel is better and why.

4 year fixed @ 2.45%
5 year variable @ Prime -0.9

I am leaning towards the fixed but since Bank of Canada said they not going to raise interest for the next 2 years, I am not too sure. I did some calculations and if BOC decides to raise rates by 0.5 after the 2 years, I still save 1k by going with the variable.

What are your thoughts,

Thanks in Advance

Could you please tell me your banker or brokerage? Thanks a lot

[peroorim]

Hello Everyone, I need your advice as to which one do you feel is better and why.

4 year fixed @ 2.45%
5 year variable @ Prime -0.9

I am leaning towards the fixed but since Bank of Canada said they not going to raise interest for the next 2 years, I am not too sure. I did some calculations and if BOC decides to raise rates by 0.5 after the 2 years, I still save 1k by going with the variable.

What are your thoughts,

Thanks in Advance

Can you please send me the information for your broker?

[LordFoo]

Could you please tell me your banker or brokerage? Thanks a lot

Can you please send me the information for your broker?

Are you guys seriously getting excited about quoted rates from September 2011?