I think the CIBC offer is decent for sure, especially considering your banking is there, and leg work involved etc. .08% or 8bps isn't much difference. You can compare the "true cost difference" between the two rates here: https://www.ratespy.com/mortgage-rate-comparison-calculatorAceMagnet wrote: ↑ I'm currently with CIBC and I'm do for renewal, BMO offered me 1.25 variable for 5 years.
CIBC came back with an offer of 1.28 variable for 3 years or 1.33 for 5 years.
Is the CIBC offer decent?
It's a big headache switching banks and paying penalty fees and all my banking is with CIBC.
What do you guys think?
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