The Official Mortgage Rates Thread

SteveC83502 wrote: ↑ For a mortgage transfer/renewal:

-How much is the mortgage owing? $233.5K
-Roughly, what is the current market value of the property? $330k
-Which city is the property located in? Elizabethtown Ontario
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? Radius Financial
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? August 2016
-When is your renewal date? August 2021
-Existing rate: 2.59%
-20 year amortization

Break fees approximately $2000

I think it will be roughly a wash for this term, but I am interested anyway so I can lock in the low rate for the next five years. I am a bit worried that rates will creep up a bit by the time im up for renewal.

SteveC83502 wrote: ↑Does anybody want to take a shot at mine?

TazZaide wrote: ↑ Nothing at all! If the savings makes sense and offsets your penalty, then you can definitely look into seeing what you have available if you switch your mortgage for a lower rate. If you fill out the questions from page 1, the brokers here would be able to see whether it makes sense to switch for you, and what kind of rates you’d be looking at.
You can also roll in upto $3000 of your penalty into the mortgage upon your switch to the new lender, so you don’t have to pay upfront from pocket.

rateconnect wrote: ↑ 5 yr fixed 1.74%
5 yr variable 1.65%

Major bank

Phil

cec4111 wrote: ↑ I am in the same boat, renewed in July at 2.05% variable uninsured mortgage? What are my options to move to lower rates? Mortgage amount is 404k.

PaulMeredith wrote: ↑ Thanks for the info! Definitely much lower rates out there. The lowest 5 year fixed rate in your situation would be 1.59% or 5 year variable at prime -0.90% (1.55%), which are available through any regular posting broker on this board.

CoolCAN wrote: ↑For a mortgage transfer/renewal:

-How much is the mortgage owing? 424,500
-Roughly, what is the current market value of the property? 700,000
-Which city is the property located in? Mississauga
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? TD Bank
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? 1 Oct 2016
-When is your renewal date? 1 Oct 2021

CoolCAN wrote: ↑ For a mortgage transfer/renewal:

-How much is the mortgage owing? 424,500
-Roughly, what is the current market value of the property? 700,000
-Which city is the property located in? Mississauga
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? TD Bank
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? 1 Oct 2016
-When is your renewal date? 1 Oct 2021

hoodlum wrote: ↑ New Purchase
What is the purchase price? 340k
-How much is the down payment? 25%
-Where it the property located? Stratford, ON
-When is the closing date? Nov 17
-Will the property be owner-occupied or a rental? owner-occupied

Looking at 5 year fixed for 10-12 year amortization.

macbain wrote: ↑For a mortgage renewal:

-How much is the mortgage owing? $116K
-Roughly, what is the current market value of the property? $450k
-Which city is the property located in? Ottawa Ontario
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? First National
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? Jan 2011
-When is your renewal date? Jan 2021
-Existing rate: 2.59%

I am being offered 1.69 to renewal with current lender

macbain wrote: ↑ For a mortgage renewal:

-How much is the mortgage owing? $116K
-Roughly, what is the current market value of the property? $450k
-Which city is the property located in? Ottawa Ontario
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? First National
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? Jan 2011
-When is your renewal date? Jan 2021
-Existing rate: 2.59%

I am being offered 1.69 to renewal with current lender

CoolCAN wrote: ↑ For a mortgage transfer/renewal:

-How much is the mortgage owing? 424,500
-Roughly, what is the current market value of the property? 700,000
-Which city is the property located in? Mississauga
-Is the property owner-occupied or a rental? Owner
-Who is your current lender? TD Bank
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? 1 Oct 2016
-When is your renewal date? 1 Oct 2021

CoolCAN wrote: ↑Thanks for your quick reply. Current rate is 2.39 and estimated penalty is around 6700

Though i will confirm from bank and repost

CoolCAN wrote: ↑ Thanks for your quick reply. Current rate is 2.39 and estimated penalty is around 6700

Though i will confirm from bank and repost

glaaze83 wrote: ↑-What is the purchase price? 1.3M
-How much is the down payment? 260K
-Where it the property located? New Westminster British Columbia
-When is the closing date? November 30
-Will the property be owner-occupied or a rental? Owner Occupied

Appreciate everyone's input.

Cheers