Hi there,DaveTO wrote: ↑ Seems like Meridian's Fixed 2.2% for 2 years is for new purchases only. Bummer!
I am looking to re-finance or just renew. I was thinking of taking some money out to do some renovations on my rental property.
What are some good short term (less than 3 years) fixed rates currently offered besides Meridian's 2.2%?
As Andre mentioned, rates for refinances are not as aggressive as switches/purchase transactions. For a 1 year fixed refinance, you'd be looking at 2.89%. For a 2 year fixed, you'd be looking at 2.94%. A 3 year refinance is around 2.99%-2.94% and your refinance costs would be covered (appraisal, legals, and discharge fee from current lender). A five year term for a refinance is about 3.14% fixed.
Concierge Mortgage Group