I agree.ace604 wrote: ↑Mar 17th, 2017 3:09 amI was only replying to the "??" which I interpreted as possibly questioning why a doubled "discount" of 40bps was only beating the other rate by 5bps.
The fact it starts 5bps lower is kind of meaningless since TD can just willy nilly change their "mortgage prime" to whatever they feel like. I would NEVER take a variable rate from a bank using a "mortgage prime" when the others are still using the same one as for all their customer products. I think IG has a mortgage prime too, not just TD. All those people who jumped on P-1.01 a while back actually got "mortgage prime" minus 1.01%.
Shady. Dunno if there's an emoji for that, so I'll go with a fish too. Didn't see a shark
Given TD is a balance sheet lender, it's very possible they will increase their Mortgage Prime Rate again. It does feel like you're taking on an added risk for a variable rate mortgage with TD.
IG also has a Mortgage Prime Rate that is currently 2.85%.
Mortgage Agent and Real Estate Sales Representative