The Official Mortgage Rates Thread

[t3359]

Anyone getting better than Prime - 0.25% on a open variable?

No reponses... anyone know if someone is offering this?

bjl

[sslinn]

No one!

[t3359]

No reponses... anyone know if someone is offering this?

bjl

No one!

Anyone offering sub-prime on an open variable mortgage?

bjl

[gizmo8]

BMO offered %2.7 on a two year open variable without me pressing for a better rate...

[mcmanus]

being offered 3.75 for 4 year fixed rate. roughly 300,000 mortgage with the option to pay up to double on any payments. First time homebuyer... From TD...

Does this sound good?

[sslinn]

It is competitive. You can do a bit better with a 5 year quick close at 3.69%

[mcmanus]

can you explain the 3.69% quick close?

NVM google is my friend... I will talk to my specialist about that. We are closing March 31st so we should qualify for a 30-day quick close.

[sslinn]

Talk to them, it has better prepayment options as well. I am in Edmonton so if you don't get an answer you like drop me a PM.

[bargain_deal]

being offered 3.75 for 4 year fixed rate. roughly 300,000 mortgage with the option to pay up to double on any payments. First time homebuyer... From TD...

Does this sound good?

just got off the phone with a TD official. was offered 3.05 for 3 yrs and 3.5 for 4yrs. 15% prepayment + double up. and my mortgage is less than half the size of urs, so u shd get something better.

this is in the GTA though...

[t3359]

BMO offered %2.7 on a two year open variable without me pressing for a better rate...

Cool... their posted 3yr open is 3.050%

BoM

bjl

[mcmanus]

just got off the phone with a TD official. was offered 3.05 for 3 yrs and 3.5 for 4yrs. 15% prepayment + double up. and my mortgage is less than half the size of urs, so u shd get something better.

this is in the GTA though...

got 3.69% as posted by sslinn. was also offered 3.89% for 5 year closed.

[sslinn]

got 3.69% as posted by sslinn. was also offered 3.89% for 5 year closed.

And that is why I am not a big fan of banks. You never know if you are getting the best deal! That phone call did save you $725 over the next four years and gave you an excellent rate for the remaining year.

Good luck with your new home!

[alanbrenton]

And that is why I am not a big fan of banks. You never know if you are getting the best deal! That phone call did save you $725 over the next four years and gave you an excellent rate for the remaining year.

Good luck with your new home!

So Sslinn, because BMO and RBC are not participants of the mortgage broker lender network, does this mean that borrowers should deal with them directly besides seeking a single mortgage broker's service?

I believe you and and another helpful fellow on RFD, both mortgage agents/brokers, advised me not to seek help from two mortgage brokers simultaneously as lenders will frown upon the additional/redundant work rendered.

[trentsteel]

Anyone getting better than Prime - 0.25% on a open variable?

Who is offering this?

[sslinn]

Might be misquoting me there just a bit.

To keep things in context the bank did not offer him the best rate they could. A simple phone call saved him some cash.

If he had applied through me and I had sent it into a lender, I would be pissed if he got the bank to match the rate and they uses the bank for his mortgage. It would have been a waste of my time and my lender's time.

If he had come to me and a credit pull showed we he was working with someone else I would have a discussion and then decide if I wanted to continue working with him.

I don't like having my time wasted.