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[Tangerine] Tangerine Mortgages - 5 Year Fixed Rate at 3.19%

  • Last Updated:
  • Apr 10th, 2019 7:50 am
[OP]
Newbie
Jan 11, 2017
87 posts
62 upvotes
Mississauga

[Tangerine] Tangerine Mortgages - 5 Year Fixed Rate at 3.19%

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Tangerine
More offers from Tangerine
Tangerine is offering their 5 Year Fixed Rate at 3.19%

Type: Collateral Charge
Prepayments up to 25% of your original Mortgage

If you apply for an eligible Mortgage of at least $250,000 by June 30, 2019 and your Mortgage funds within 120 days of your application submission, you could get a Bonus of up to $1,500*
Realtor
Right at Home Realty Inc.
47 replies
Deal Addict
User avatar
Jun 10, 2011
4051 posts
1364 upvotes
or get 3.04% from anyone else..
Member
Jun 10, 2017
381 posts
521 upvotes
Is 5yr fixed locked in still a thing? I'd imagine a shorter term or variable would be better route
Deal Addict
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Mar 19, 2005
1272 posts
67 upvotes
Montreal
def47 wrote:
Mar 27th, 2019 10:48 pm
or get 3.04% from anyone else..
Where can you find 3.04 ?
Deal Guru
User avatar
Nov 27, 2005
11571 posts
1215 upvotes
Shouldn't people be looking at variable these days?
Deal Addict
Jul 7, 2016
1964 posts
1883 upvotes
variable? it can only go up from here.
Deal Addict
Nov 18, 2015
1306 posts
942 upvotes
waven101 wrote:
Mar 27th, 2019 11:48 pm
variable? it can only go up from here.
na it's not going up anytime soon. maybe next year.
Jr. Member
Aug 18, 2016
163 posts
160 upvotes
One major plus of Tangerine mortgages is the calculation of penalties. They don’t have posted rates to base the penalties off of. I have two mortgages one for $264k and other for rental property of $198k and both penalties are under $1000.
Jr. Member
Aug 18, 2016
163 posts
160 upvotes
karnige wrote:
Mar 27th, 2019 11:52 pm
na it's not going up anytime soon. maybe next year.
Glad you have your crystal ball in full swing. All it takes is two rate hikes next year and your over fixed rate for remainder of term. Very little upside for variable right now.
Jr. Member
Aug 18, 2016
163 posts
160 upvotes
GenericMember wrote:
Mar 27th, 2019 10:51 pm
Is 5yr fixed locked in still a thing? I'd imagine a shorter term or variable would be better route
Bond yield curve is inverted so you won’t get much savings on short term mortgage rates vs longer term.
Newbie
Nov 22, 2017
66 posts
54 upvotes
Susanclark wrote:
Mar 28th, 2019 3:55 am
....Very little upside for variable right now.
That depends on the product. I have a Manulife One account (variable, HIGHER rate than 5 year closed) and I absolutely love it! I'm knocking down my debt at a very high rate without any penalties whatsoever. I'll pay way less interest long term with this product than I would with any conventional mortgage, even with the higher rate.
Jr. Member
Aug 18, 2016
163 posts
160 upvotes
Felix15 wrote:
Mar 28th, 2019 4:05 am
That depends on the product. I have a Manulife One account (variable, HIGHER rate than 5 year closed) and I absolutely love it! I'm knocking down my debt at a very high rate without any penalties whatsoever. I'll pay way less interest long term with this product than I would with any conventional mortgage, even with the higher rate.
Meh! I can do the same thing, I can pay down up to 25% of original mortgage amount per year, plus double payments. The product you are using is a lesser version of one provided by National bank and is only really valuable if used in conjunction with smith manoeuvre, where you constantly invest portion in line of credit side and write off interest. Otherwise this is just a tool for people bad with money.
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May 22, 2006
1281 posts
480 upvotes
Toronto
def47 wrote:
Mar 27th, 2019 10:48 pm
or get 3.04% from anyone else..
Where
Member since 2006

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Jun 10, 2011
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keljai wrote:
Mar 28th, 2019 7:14 am
Where
from any broker.. use your favorite broker.


I prefer TrueNorthMortgage

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