Mortgage Renewal - Scotiabank

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Originally Posted by dougboswell

Before you go with the variable you need to ask the lender if you were to convert to a fixed at some point in the future what is the minimum term you can go with and would the interest rate be at their posted rate or their discounted rate

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Very True. I have preached the disadvantages of the Big Banks and this is one of them. They give you their posted rate which is never the best or even better rate around.
That said, it's not likely any one will find the need to lock in over the next few years. At least that's what the financial analysts are saying. The economy is to weak for much of a rise in rate.