Expired Hot Deals

Tangerine

Tangerine - 5 YR variable, closed - 1.35% - Targeted

  • Last Updated:
  • Mar 9th, 2021 1:48 pm
Deal Addict
Sep 2, 2015
2115 posts
1766 upvotes
Laval, QC
I got this offer too but the rate is 1.47%, the rate is definitely ymmv
Member
Nov 24, 2019
434 posts
516 upvotes
Saskatoon
jdmfishingonly wrote: My 5-Year at 2.64% was set to mature August 2021.

Did EARLY RENEWAL in February 2021 for 7-Year fixed at 1.95% with Scotiabank. Other options were: 5-Year Fixed at 1.59% and 10-Year Fixed at 2.35%.

Anybody who does a 5-Year now ... good luck with the headaches to come 5 years from now. Rates 5 years from now will be up ... 5-Year Fixed would be more than likely over 4%.

People worry about the IRD ... big deal! The penalty will be OFFSET BIG TIME by the gain from the sale of your property.

Variable rate mortgages are a NO NO at this time. Rates can ONLY go UP!

If you look at historic rates ... the interest rate on a 5-Year fixed has NEVER been this low over the past 40 years!
Lol. Doom and gloom, false statements without any math behind them, and bad advice all in one post.

First of all, what makes you so sure that people will be having headaches with 4% rates 5 years from now, but that will have magically cleaned itself up when your 7 year term is over? Plus even if rates are lower at that time, with the difference in interest paid over the first 5 years with a 1.95% instead of a 1.59% rate you could easily still come out behind. That's a significant difference.

Secondly, telling people not to worry about IRD as if its no big deal when you're signed with a big bank like Scotia is laughably careless advice. Those penalties can easily cost into the tens of thousands of dollars, and the majority of people will break before their 5 years is up. You really want to say that a five figure penalty is no big deal in the same post you worry about imaginary rate hikes 5 years from now as being the end of the world?

As far as 5 year fixed rates having never been this low over the past 40 years as a reason to lock in now because rates can only go up? Guess what, you could have said the same thing 5 years ago and it would have been true then as well. And 5 years before that too. But sure, THIS TIME its definitely the case that the trend is over.
Member
Oct 7, 2003
428 posts
216 upvotes
SaskCanesFan wrote: Lol. Doom and gloom, false statements without any math behind them, and bad advice all in one post.

First of all, what makes you so sure that people will be having headaches with 4% rates 5 years from now, but that will have magically cleaned itself up when your 7 year term is over? Plus even if rates are lower at that time, with the difference in interest paid over the first 5 years with a 1.95% instead of a 1.59% rate you could easily still come out behind. That's a significant difference.

Secondly, telling people not to worry about IRD as if its no big deal when you're signed with a big bank like Scotia is laughably careless advice. Those penalties can easily cost into the tens of thousands of dollars, and the majority of people will break before their 5 years is up. You really want to say that a five figure penalty is no big deal in the same post you worry about imaginary rate hikes 5 years from now as being the end of the world?

As far as 5 year fixed rates having never been this low over the past 40 years as a reason to lock in now because rates can only go up? Guess what, you could have said the same thing 5 years ago and it would have been true then as well. And 5 years before that too. But sure, THIS TIME its definitely the case that the trend is over.
Well put...I know when I first read his post I laughed and almost felt sorry for the guy for posting yikes...good luck to him
Newbie
Sep 11, 2019
15 posts
5 upvotes
Tubbyboii wrote: I am with Scotia on Variable Flex so currently sitting at 2.03% 5 months in too. Have a meeting with them to lock in a fix rate hopefully able to get 1.7% or 1.8% should i just leave it then even with everyone saying it is going up? 500K

Can you confirm what you got please? I'm in the same boat and was about to inquire if it was worth it! Thank you!
Member
Jul 8, 2013
332 posts
77 upvotes
Montreal
I already signed my renewal for April 2021 but it hasn't started yet, can I still opt out to MCAP?
Sr. Member
Mar 12, 2017
579 posts
430 upvotes
RAPSCHAMPS2019 wrote: MCAP offering 1.49% renewal 5 year fixed
You got that on the phone? Just talked to them because I wanted to break my mortgage and they offered me 1.89 fixed and 1.4 variable. My penalty was 5600$ on a 200k balance. I'm on the flex, so no leverage. (I have regrets about it.)

They even want to charge me for a blend and extend, something that I thought no lender was doing.
Newbie
Mar 4, 2021
4 posts
1 upvote
I got this as part of my renewal through email - did not do flex - initially it was 1.59 but I followed up a few weeks ago and they lowered it to 1.49.
Deal Addict
User avatar
Nov 23, 2010
1203 posts
497 upvotes
Toronto
Anyone know how early I can renew a mortgage?

My 3 year variable @ 1.45% is up for renewal in August 2021

I'm seeing a lot of good comparable rates and I sort of want to just get it over with and renew
Deal Expert
User avatar
Jan 12, 2017
18657 posts
5442 upvotes
Scarberia
Ot.. Is 2.1% on savings account good? How much profit if I put in 10k for 6months.. Tia
*SIG: Ryzen R5 2600 cpu w/ ASrock B450M OCd to [email protected] stock cooler 16gb ram win10 pro w/radeon rx460 rogers Gigabit<< xb1 gamertag: mikka2017 >>
Deal Addict
Oct 24, 2009
2315 posts
933 upvotes
mikka2017 wrote: Ot.. Is 2.1% on savings account good? How much profit if I put in 10k for 6months.. Tia
Firstly, these are mortgage rates not interest rates on savings accounts that are being talked about.

Secondly, if you're not able to do the rather simple math on that on your own and have to ask here, that's not a good thing...
Newbie
Mar 1, 2012
14 posts
7 upvotes
HSBC is offering 1.29% for 5 year variable. if anyone if interested. Currently getting TD to match it. still waiting for manager approval.
Newbie
Mar 1, 2012
14 posts
7 upvotes
im not too sure who you bank with. mine is at TD and they allow up to 4 months before maturity for early renewal.

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