We currently have the mortgage for our townhouse with TD, fixed rate @2.69% for 5 years end in 2020. We are buying an apartment in Surrey, BC and will make it a rental property. The purchase price is 318k and we will go with 20% down payment. So we got pre-approved from TD with the 5 yr variable rate 2.75% P-0.6. I personally prefer fixed rate for short terms like 1-3 year because Idk if we are going to keep the apartment for a long time.
Is 5 yr 2.75% a good variable rate? What is the lowest fixed rate that I can get for a rental property?