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Mortgage Rates
- Thread starter ToSlow
- Start date
Relax
Well-known member
I'm 3 years into a 5-year term, so haven't been looking, but when I was, I used ratespy.com and ratehub.ca to compare offerings.
I also spoke to Paul Meredith, a broker at https://www.easy123mortgage.ca/interest-rates/, who I met on RedFlagDeals and seems knowledgeable, but ended up renewing with who I was already with when they offered to come close enough to the best rate I could find that the cost to switch would have made it a wash.
I also spoke to Paul Meredith, a broker at https://www.easy123mortgage.ca/interest-rates/, who I met on RedFlagDeals and seems knowledgeable, but ended up renewing with who I was already with when they offered to come close enough to the best rate I could find that the cost to switch would have made it a wash.
I’m at Prime - 1.3%
Went from a fixed 2.9% to a variable 1.3% 6 months ago….and now I’m at 4.65%.
FML
Was thinking of locking in but I think rates will stabilize and go back down mid to late 2023…I hope.
Payments went from 980-802-1150/biweekly currently.
Went from a fixed 2.9% to a variable 1.3% 6 months ago….and now I’m at 4.65%.
FML
Was thinking of locking in but I think rates will stabilize and go back down mid to late 2023…I hope.
Payments went from 980-802-1150/biweekly currently.
You must have bought the same crystal ball as me.
The numbers I am seeing right now are in the mid 5% range for fixed, variable does not seem to be much better. Aggressive shopping around is likely the best course of action.
Does not help your current situation but our switch to Meridian five years ago really paid off. We would have been coming due literally right now, they preemptively reached out to us early this year and offered to break our fixed mortgage at no cost and lock us in to ~2.8% for five more years. They called us....
Does not help your current situation but our switch to Meridian five years ago really paid off. We would have been coming due literally right now, they preemptively reached out to us early this year and offered to break our fixed mortgage at no cost and lock us in to ~2.8% for five more years. They called us....
Buddy of mine signed a 5 year fixed at 1.8% earlier this year. The same would’ve cost me 30k in break fees so I didn’t do it.
Took a risk and lost. Ah well.
Damn... that is awesome service. Ours is due in July 2023 so come Jan, we will start to shop and see how badly things go..
My bank called me 6 months before my last (and last) mortgage was due for renewal, said the rates were likely bottomed out, and asked me if I wanted to lock in @ 2.1 over 5 yrs. ahead of schedule, no penalty. Where do I sign?
I messed up majorly for sure. My reasoning was:
'Rates are at all time low...they'll go up, but how quick? Typically 0.25% per so it would take 2-3 years to raise up to the 2.95% v 1.3% offered'.
Boy was I wrong....we all knew they were going up. Just not this hard and fast.
Less LEGO for the kids for Christmas.
Has TD once…. Mortgages were dropping and they could not produce my paperwork until they day it needed resigned . Ended my mortgage relationship with TD . Last one was Scotia , to double down payments I had to actually go into the branch and pay it there , not an option available online so I was told .
Used a Manulife one account , even though there was no brick and mortar building the service was very good .
Sent from my iPhone using GTAMotorcycle.com
Used a Manulife one account , even though there was no brick and mortar building the service was very good .
Sent from my iPhone using GTAMotorcycle.com
I've heard of and experienced the TD account fudging. Thanks but no thanks.
We had td then they decide that they couldn't get things done on time because we increased our down payment switched to Scotia.
Sent from the future
Have you tried a broker? My last couple came through MCAP. It's rare I think that a broker can't beat the bank's price.
Also was that the price they gave or did you haggle some. They usually shave a 1/2% pretty quick if you push back a little.
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