Rate on new RBC Homeline Segment
Hi guys. My mortgage comes up for renewal end of June.
I'm looking at RBC Homeline 5 year variable. Not the rock bottom rate, but their location is good and I'm happy with how everthing is set up, so I'm okay with 10 bps spread for the convenience.
My question is this: Today my mortgage is only $250k, so I'd renew this amount. I'd also have access to a line of credit. I'm told that I can take out money in my LOC and then roll that into a a fixed or variable segment. So lets say later this year I do a $150k reno. I might end up with a $250k "original" segment on a 5-year variable, and then a $150k "reno" segment that I lock into for say a 4-year fixed.
My question is: when I roll my "reno" line of credit balance into a fixed segment, what sort of rate will I be looking at? Will RBC give me a deep discounted rate (as they're offing now), or will I be stuck with the posted (very high) rates?
In other words, what sort of rate can i expect to get with RBC when I add an additional segment to my homeline mtg?
I'm looking at RBC Homeline 5 year variable. Not the rock bottom rate, but their location is good and I'm happy with how everthing is set up, so I'm okay with 10 bps spread for the convenience.
My question is this: Today my mortgage is only $250k, so I'd renew this amount. I'd also have access to a line of credit. I'm told that I can take out money in my LOC and then roll that into a a fixed or variable segment. So lets say later this year I do a $150k reno. I might end up with a $250k "original" segment on a 5-year variable, and then a $150k "reno" segment that I lock into for say a 4-year fixed.
My question is: when I roll my "reno" line of credit balance into a fixed segment, what sort of rate will I be looking at? Will RBC give me a deep discounted rate (as they're offing now), or will I be stuck with the posted (very high) rates?
In other words, what sort of rate can i expect to get with RBC when I add an additional segment to my homeline mtg?