Expired Hot Deals

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

  • Last Updated:
  • Apr 10th, 2019 7:50 am
Deal Addict
User avatar
Jan 17, 2005
1607 posts
266 upvotes
Ottawa
milolai wrote: Fwiw. I am approved at hsbc at 2.89 on a 5 year fixed.

However I probably will end up going to a traditional bank at a higher rate.

Let’s see if anything changes though. I have until July 1.
Collateral?
Deal Addict
User avatar
Jun 10, 2011
4062 posts
1375 upvotes
WikkiWikki wrote: I know, everyone will now get a hard on proving they are right. Enjoy
typical RFD.
-gives attitude and asks for proof.
-receives proof
-still gives attitude

Face With Tears Of JoyFace With Tears Of JoyFace With Tears Of Joy

poor life you must have.
Like Bobby McFerrin once said:
**don't worry, be happy**

(thx susan!)
Last edited by def47 on Mar 28th, 2019 4:15 pm, edited 1 time in total.
Member
Aug 18, 2016
209 posts
226 upvotes
def47 wrote:
poor life you must have.
Like Bob Marley once said:
**don't worry, be happy**
I believe that was Bobby McFerrin
Member
May 28, 2007
256 posts
210 upvotes
CALGARY
I don't claim to be an expert, so feel free to correct me
But, it is my understanding that a long term fixed rate is almost never a good deal.

Banks have their forecast of 5 year interests, add some contingent amount, and maybe some more extra profit for extra risk
and this is what we are paying for, above and beyond the most accurate forecasted rates.

Surely, people would like to lock it in to feel safe, and that's what their profiting on.
But, banks don't offer these options as charity, they do have a relatively good forecast, and sure aren't losing money
And, in order to sell this, banks will ALWAYS tell you that the interest rate is rising, so you better lock it in now!
Member
May 28, 2007
256 posts
210 upvotes
CALGARY
SaversSave wrote: Any point in going 10yr fixed?
Elaborating on my previous post, 10 years is too far to forecast for any economy.
compounding the risk factors banks might have to sell it to you 6% to guarantee their profit, and that's a hard sell.
Member
User avatar
Dec 12, 2014
369 posts
305 upvotes
Westmount, QC
I don't think interest rate are going up too much. Many of the G20 countries have 0% (FED). Deutsch bank is a zombie near bankruptcy. Economic crisis soon imo. Interest will lower.
Deal Addict
User avatar
Aug 9, 2007
1105 posts
472 upvotes
milkmilk wrote: I don't claim to be an expert, so feel free to correct me
But, it is my understanding that a long term fixed rate is almost never a good deal.

Banks have their forecast of 5 year interests, add some contingent amount, and maybe some more extra profit for extra risk
and this is what we are paying for, above and beyond the most accurate forecasted rates.

Surely, people would like to lock it in to feel safe, and that's what their profiting on.
But, banks don't offer these options as charity, they do have a relatively good forecast, and sure aren't losing money
And, in order to sell this, banks will ALWAYS tell you that the interest rate is rising, so you better lock it in now!
Thats my take on it all. I always run variable. It supposedly averages out to be less in the long run, and in my eyes that's the best outcome. But I also don't have issues saving money for rainy interest days.
The experts setting fixed rates know a lot more about the forecasts than I ever will, and I'm pretty certain they won't be giving that rate security for "free".
Deal Addict
Nov 24, 2002
2178 posts
499 upvotes
def47 wrote: TrueNorthMortgage.ca
advertised on their website

few years ago they even offered me lower than the proce advertised online.. just saying.

so? just noise, you said?
I'll check them out, but it seems as their posted 5 year fixed mortgage that is not high ratio is 3.24%.
Deal Fanatic
Dec 24, 2005
5414 posts
1009 upvotes
NewToRfd wrote: Why? Anything wrong with HSBC?
they seem incompetent and really difficult to deal with.
a normal bank will give me 3.10 and for that small difference i'd rather not deal with HSBC.
Deal Addict
User avatar
Aug 9, 2007
1105 posts
472 upvotes
As someone who has paid down more than 20% on a house, all the high yield mortgage discounts make me aaaaangry.

5 year variable at 2.55%? I wish I could get prime - 1.4%
https://www.butlermortgage.ca/rates/
I have no idea what this site is, nor how reputable, just saw it while researching rates even though I have several years until mine is up.

* it doesn't mention increasing payments, lump sums, or what the actual rate is though (calculated based on a cash back concept, which isn't great as a combination)
Newbie
Mar 28, 2019
1 posts
Several lower-rate offers via Rob McLister's trustworthy rate comparison site, however most of the cheaper ones require 80-95% LTV:
https://www.ratespy.com/best-mortgage-r ... year/fixed

Re @Drizzt, Ron Butler has been an active and vocal participant in the mortgage industry for many years and his firm has been around for at least as long as I've been following mortgage news, i.e. 2011 or earlier. As far as brokers go, you can find less reputable sources.
Deal Addict
User avatar
Sep 27, 2009
2191 posts
441 upvotes
Woodstock, ON
Can anyone answer this for me... I'm not currently a tangerine customer. I would like to know what they pre-approve me for. Nowhere on their initial 'sign me up' page does it say it's for a pre-approval.

I found a place I may want to put an offer on. If I sign up on their website and provide all my info, this is only the pre-approval portion, correct? I'm not actually registering for the mortgage with them, right? and how long do they usually take to do this?

I'm with RBC with my current mortage and asked them for a pre-approval, with a live specialist. I just won't want to mess anything up if I try with tangerine at the same time. ultimately, I'd like to go with tangerine because of the 25% payment options


thank you
Second rule of RFD ... don't talk about stocktrack.ca with non-members of RFD
Third rule of RFD ... see first rule. if you don`t know first rule, someone`s following the rules ;)

Woodstock, ON
Newbie
Apr 16, 2018
2 posts
I dealt with both RBC and Tangerine recently, and decided to go with Tangerine (the whole process took Tangerine about one week). I like Tangerine's 25% lump sum payment option. In comparison RBC only offers 10%.

Currently Tangerine offers me 2.99% on 3-year fixed (not high ratio mortgage, I wiil put more than 25% down payment).
crashxxx wrote: Can anyone answer this for me... I'm not currently a tangerine customer. I would like to know what they pre-approve me for. Nowhere on their initial 'sign me up' page does it say it's for a pre-approval.

I found a place I may want to put an offer on. If I sign up on their website and provide all my info, this is only the pre-approval portion, correct? I'm not actually registering for the mortgage with them, right? and how long do they usually take to do this?

I'm with RBC with my current mortage and asked them for a pre-approval, with a live specialist. I just won't want to mess anything up if I try with tangerine at the same time. ultimately, I'd like to go with tangerine because of the 25% payment options


thank you

Top