The Official Mortgage Rates Thread

[command]

My broker arranged prime - 0.9 (open/variable) at industrial alliance pasific.
I never heard of them before.
Any opinions about their service.
Or should I go for another institution.

I got Prime - 1% for 5 years variable closed.
I think my mortgage broker is pretty good in terms of getting the best rate possible. If you want his contact, please pm me.

where did you get the rate from?
Would you pm me thanks.

Thanks.

[leafs]

The cheapest Open Variable I could find was with CIBC 5 year open Variable -.8 prime. Also Firstline mortgages had a - .9 below prime Open Variable but if you left before 5 years you were penalized -.15 so not as good as I thought at first.

[Rosico]

The cheapest Open Variable I could find was with CIBC 5 year open Variable -.8 prime. Also Firstline mortgages had a - .9 below prime Open Variable but if you left before 5 years you were penalized -.15 so not as good as I thought at first.

I'd bet CIBC would penalize you as well. I always thought Firstline was CIBC's discount mortgage handlers?

The lowest I can find right now is open variable 5 years at -.95 with Dundee bank

[leafs]

Is that .95 below prime open and variable without penalty? If it is that is a sweet deal. Will they cover legals costs as well?

[gr1]

found this today.. pretty good rates from Dundee Bank of Canada 5.05 5 year fixed

http://www.dbc.ca/en/rates/

Trying to get TD to match

[doodling]

Is the 4.94% for a 5 year fixed as well? Cuz that's a really good rate. I talked to a mortgage broker and the best was 5.09. Do you mind giving out information on your mortgage broker?

yes 4.94% is 5 year fixed. i think he mentioned on the phone this rate is only good for $400K+ mortgages. i have a meeting with him tomorrow, i'll get more detail and if all goes well i will definitely pm those who want his contact with recommendation

[Rosico]

found this today.. pretty good rates from Dundee Bank of Canada 5.05 5 year fixed

http://www.dbc.ca/en/rates/

Trying to get TD to match

yup, their variable is the -.95 too.

[chileung]

wow...that's a really good rate. Anyone have any experience with them?

found this today.. pretty good rates from Dundee Bank of Canada 5.05 5 year fixed

http://www.dbc.ca/en/rates/

Trying to get TD to match

[gr1]

of course TD won't match as they are idiots and don't care about their customers.. best they could give me is 5.3% 5 year closed

[daisyville]

A number of years ago, I was a TD customer, and at that time, I had been for some 20 years.

They couldn't offer me anything other than the posted rate.

I took all my banking elsewhere.

[chileung]

I was with TD for many years too and they were only willing to go down to 5.20% on a 5 year closed.

[brendonp]

I'd bet CIBC would penalize you as well. I always thought Firstline was CIBC's discount mortgage handlers?

The lowest I can find right now is open variable 5 years at -.95 with Danby bank

I have prime - 1.0 from CIBC (picked it up last November), with no penalty for leaving early... I also do my small business' banking with them which probably helps (given that the loan is arranged through their small business department, not the regular loan officers).

[doodling]

Hi Guys,
4.94% for a 5 yr fixed is pretty good. I can beat it though. How does 4.89% sound for a 5 yr fixed? PM me for more details.

that sounds really good...

i tried to pm/email you, but neither functions are enabled on your account. can you give us more detail please?

[Mortgageguy]

Can also do variable at Prime - .95% with 25% annual pre-payment.

My lender compounds semi-annually while all others compound their variable monthly. The net effect if the other guys are an effective .06% higher because of the more frequent compounding.

Sooooooo, if they offer Prime less .95% like my lender, please keep in mind that because of the compounding frequency, we are still an extra .06% cheaper!!!!!

[leafs]

Mortgage guy let us know what your best open Variable rate mortgage you can do is.