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[TD Bank] TD fixed rate 2.54% mortgage

  • Last Updated:
  • Jun 26th, 2020 9:44 pm
Newbie
Apr 22, 2020
5 posts
It depends on your "goals". Lately I've noticed people are taking variable for 2 reasons, 1) Investment property (if they have to sell and pay much less penalties ) 2) If they do not plan on living within their home for 5 years. Also, it depends on your risk tolerance.

At the end of the day I believe if you plan on living in your new home for over 5 years, and you like a set amount of mortgage payments every month, I would go fixed. The difference between 2.39 and 2.25 in interest savings isn't overly "substantial".
Newbie
Jun 6, 2016
17 posts
1 upvote
Hello,
My renewal is coming soon in October.Today I received a letter from CIBC for the pre renewal
@4 years_2.45 fixed
@3 years 2.24 variable
Should I accept this offer or shop around .
Any suggestions please....
I see lots of good rates are in RFD discussion.
Thanks
Deal Addict
User avatar
May 12, 2010
1200 posts
468 upvotes
Whitby
DPR2017 wrote: debating between 5 year 2.39 (fixed) and 2.25 (variable) - thoughts from folks? not with TD
Most bank advisors will tell you to take fixed, but if you ask them what they have, they'll say they have variable... this is mostly because there is a risk in the latter. I recommend variable, you'll make savings while the rate is low, and if you get cold feet later on you have the option to lock to a fixed rate.
Member
Apr 11, 2013
455 posts
249 upvotes
Cruxous wrote: Hello,
My renewal is coming soon in October.Today I received a letter from CIBC for the pre renewal
@4 years_2.45 fixed
@3 years 2.24 variable
Should I accept this offer or shop around .
Any suggestions please....
I see lots of good rates are in RFD discussion.
Thanks
Go with a mortgage broker. Much better rates (around 1.90% for 5yr variable and 2.09% for 5yr fixed)
Sr. Member
Apr 18, 2004
842 posts
269 upvotes
strawberry9999 wrote: Most bank advisors will tell you to take fixed, but if you ask them what they have, they'll say they have variable... this is mostly because there is a risk in the latter. I recommend variable, you'll make savings while the rate is low, and if you get cold feet later on you have the option to lock to a fixed rate.
yes, I total agree with you. I renewed my mortgage last year and most brokers suggested me fix for around 3.1, while I decided to get variable for 2.75 (p-1.2), now it is 1.25 , pretty happy
Never again! HTC , Wind Mobile , Air China
Member
Jun 10, 2016
305 posts
246 upvotes
Durham
Spawk1028 wrote: Great rate, only problem for me would be that it's TD.
whats the difference..arent all the same?? unless you like Meridian lol :D
Newbie
Apr 22, 2020
5 posts
2.45 is actually pretty good for cibc, I work closely with a mortgage advisor who works directly for cibc and he told me 2.54 on a 5 year fix, RBC never negotiates on rates ive noticed and they have 2.6ish, TD right now is offering 2.57. Thats all i know for now.
Newbie
Apr 22, 2020
5 posts
Perpetual wrote: I was able to negotiate 2.45% for 5 year closed, 25 year amortization with TD. I had good income to support it and he said it was a done deal.

PM me if you want his contact.
I know someone at CIBC in Toronto that can beat that and offer cash back, PM me and let me know!
Newbie
Nov 23, 2014
63 posts
23 upvotes
Toronto, ON
I just renewed iand got 2.34 with TD on a 5 year fixed. I am located in Ottawa
Newbie
Feb 19, 2013
1 posts
Chilliwack
mortgagebar wrote: I know someone at CIBC in Toronto that can beat that and offer cash back, PM me and let me know!
I am interested in CIBC renewal offers if you're able to help.
Deal Addict
Jun 11, 2005
2646 posts
311 upvotes
NeedforSpeed wrote: I just renewed iand got 2.34 with TD on a 5 year fixed. I am located in Ottawa
Hi, is this high ratio/insured?

Thanks.
Jr. Member
Nov 17, 2017
175 posts
43 upvotes
I turned down 2.14% 3 yr fixed from td to take td prime - .75 variable for 5 yr closed.

The lady i am dealing with said,

Td prime for unimsured mortgage is
2.60 - .75= 1.85

I have not siged it yet. Is this good?
Deal Addict
Jun 11, 2005
2646 posts
311 upvotes
NeedforSpeed wrote: Not a high ratio, just a regular renewal.
Thanks. My contact got me 2.44% 5-yr fixed which I almost signed today.

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