Do you know how to check you inbox?
FSCO # 10428 - Mortgage Intelligence
Jan 12th, 2018 3:27 pm
Jan 12th, 2018 3:34 pm
Sent you a message.
Jan 12th, 2018 4:52 pm
Jan 12th, 2018 4:55 pm
Jan 12th, 2018 6:06 pm
Jan 12th, 2018 7:20 pm
Jan 12th, 2018 9:03 pm
Jan 13th, 2018 9:11 am
There are SIGNIFICANTLY lower available. As your mortgage is insured, the lowest 5 year fixed rate is 2.79% and the lowest variable is prime -1.25% (currently 1.95%).
Jan 13th, 2018 9:12 am
That's a decent rate for a 2 year fixed if it's the 2 year that you are looking for. If you are looking for a longer term, you may be able to get a 5 year fixed for the same rate.
Jan 13th, 2018 9:20 am
Converting your fixed to variable is not really a strategy I suggest for most people. By converting to a fixed rate, you're also taking a gamble that prime rate will continue to increase further since your new rate and payment would still be much lower than it would be if you just accepted the increase on your variable.
Jan 13th, 2018 9:31 am
Whether to go fixed for variable really depends on the person, and there is no right or wrong answer here. In the past, homeowners have typically come out ahead with variable rate mortgages over fixed. For this reason alone, many of them continue to follow that trend, but this doesn't necessarily mean this is the best path to follow.
Jan 13th, 2018 4:29 pm
Jan 13th, 2018 5:41 pm
Seems like most big banks are offering 5 year fixed rates for 3.19% with no resistance. Even lower if they want to compete to keep your business.Jake1982 wrote: ↑Jan 13th, 2018 4:29 pmHeres what Scotiabank offered me for a early renewal today. I was told by the "advisor" that in order to negotiate I need to get a quote from another institution and they would get back to me in a couple days. Not impressed with the service they offer especially considering I've been a customer for over 10 years.
Looking to renew.
3yr 3.00% capped @ 3.74%
Mortgage amount: $270,000 remaining
Property value: approx $400,000
CMHC Insured? No
Maturity Date: May 30, 2018
Can better be had out there right now?
Jan 13th, 2018 5:45 pm
Jan 14th, 2018 12:37 am