Hi there,stryder1587 wrote: ↑May 18th, 2017 4:08 pmI've been pre-approved for the mortgage I need at HSBC.
We're paying 20% down and home is over 1m.
They have 2.39 5 year fixed and 2.19 5 year variable. I'm leaning towards variable since it's been coming out ahead of fixed, we can switch over to fixed anytime without breaking any penalty and I think rates aren't going up due to Canada's weak economy. If NAFTA gets broken and we lose our exports, it'll get worse.
Anyway, I feel the 0.2 spread isn't much and I should be able to get a better variable.
You can definitely get a cheaper variable rate than 2.19%. At least 2.10%, and likely cheaper.
Concierge Mortgage Group