The Official Mortgage Rates Thread

Chingyul wrote: ↑ Coming up on renewal.

Currently:
Purchase: $470,000
Mortgage Balance: $280,566.29
Maturity Date: December-22-19
Term: 5 years
Remaining Term: 9 months
Remaining Amortization: 13 years, 7 months (Bought Dec 2014 with 30 yr amortization, but did a bunch of pre-payment and payment increases).
Interest Rate: 3.25% (Prime - 0.7)
Variable or Fixed: Variable

What's out there for 5 year fixed vs variable.

Explode wrote: ↑ I am looking for a mortgage for the new home. The bank referred to a new mortgage as a refinance. I am looking to extend the amortization out as I am increasing the mortgage amount and would like to keep the monthly payments down.

stasik wrote: ↑Has anyone heard of RFA mortgage? Any issues etc?

Also, for reference for other folks, here are the best rates i've been able to get on 700k property with 20-40% down as of last Fri. This is a mix of rates obtained from Dash, True North and Canwise.
Variable (no bona fide sales clause)
20% down 2.95%
35% down 2.75%
Fixed (no bona fide sales clause)
20% down 3.64%
25-30% down 3.59%
35% down 3.44%

with $500 cash back.

(If anyone knows any better, please let me know by Monday!)

Still deciding whether to take a chance and go variable or hedge and stay fixed and if the slightly lower rates are worth putting more $ down (vs investing elsewhere)...

helloder wrote: ↑ Yeah, I was told this morning by Scotiabank rep that when I moved my mortgage to them in 2014, it's not transfer but refinance. I told them I never increased my amortization or my loan, how come it's refinance. He said since it's new mortgage application so it's refinance. Now I'm not sure what will happen to the CMHC insurance I paid in 2009.

akhohd wrote: ↑ Was offered 3.09% fixed 5years +1000$ by Desjardins..
Seems decent for quebec province?

9000series wrote: ↑ Hi

I am a first home buyer in kitchener, i like to have some idea on 5yr fixed rates (25yr and 30yr).

House price: $425,000
Downpayment: 20%
Location: Kitchener
Owner occupied.

Thanks

pata3004 wrote: ↑ Hello Experts,

Looking for some idea on 5 year fixed rates for my situation. First time buyer, bought a house in GTA. Details are all follows:

Purchase price - $610,000
Down payment amount (or percentage) - 5%
Primary residence or rental property - Primary
Province - Ontario
Closing date - May 20th

SteveC123472 wrote: ↑ I have a question regarding the determination between owner occupied vs rental for mortgage rates. I bought a condo in another city to be used by a family member as they have moved there. Does this still count as owner occupied?

Chingyul wrote: ↑ Coming up on renewal.

Currently:
Purchase: $470,000
Mortgage Balance: $280,566.29
Maturity Date: December-22-19
Term: 5 years
Remaining Term: 9 months
Remaining Amortization: 13 years, 7 months (Bought Dec 2014 with 30 yr amortization, but did a bunch of pre-payment and payment increases).
Interest Rate: 3.25% (Prime - 0.7)
Variable or Fixed: Variable

What's out there for 5 year fixed vs variable.

mparker2 wrote: ↑ I've had my mortgage with MCAP for almost 10 years (1 renewal). Their service is excellent. User-friendly online portal. Will consider renewing with them again provided their offer is competitive, though that is certainly not guaranteed as there are often incentives to switch lenders. I have no complaints with their service over the past 10 years and the online portal is user-friendly and intuitive.