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Thread: Latest Best Mortgage rates
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Fri, Apr 3rd, 2015, 12:45 AM #61
Do be careful everyone with "ultra-low" rates. There's catches to these generally. I'm doing a variable rate for a client right now and you know what their savings of the "lowest" rate is compared to a quality mortgage is?? A whopping $200 a year. Sorry, Not worth it. Don't be fooled by deep discount mortgages.
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Thu, Apr 9th, 2015, 08:10 PM #62
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A new mortgage rate low — 1.49%
Meridian Credit Union — With lowest posted rate ever
http://www.thestar.com/business/real...e-low-149.html
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Fri, Apr 10th, 2015, 11:35 PM #63
Yes, that is a spectacular rate. . .but keep in mind it's for 18 months. This type of rate is excellent for people that can afford to take a little gamble. DO NOT EVER EVEN THINK of using this rate to figure what you "actually" qualify for.
If you want to gamble with less risk, you could try the variable rate around 2.1 to 2.2%. At least you can lock in if rates take any sudden changes.
That said, there are many people the 1.49% rate for 18 months would be great for. It's all individual based on many things, but mostly one's risk tolerance.
Also do keep in mind, you have to work or live within a 30 min. radius of a Meridian branch.
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Wed, Apr 29th, 2015, 07:28 PM #64
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What is the earliest someone can renew their mortgage without penalty is it 3 months or 6 months and does it matter if you are leaving the bank you are currently with? For example switching from a bank to a mtg from a broker ie bank as well but not done directly with the bank itself, thanks.
2019 is the year that we continue to save before we buy!!!
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Thu, Apr 30th, 2015, 12:26 AM #65
The answer to that lies with your Lender. You definitely would have a penalty with 6 months remaining on your term and it's highly unlikely you would get away with no penalty at all, even with 3 months. All you have to do is call them to ask what that penalty would be.
Some things to consider:
Is your current mortgage a collateral charge mortgage? If so, there will be an extra cost to remove that. (this is a trick some banks do to discourage people from switching)
Are you increasing your mortgage amount, or just switching? Switching is generally cheaper. Some lenders will pick up some of the costs.
Ask your current lender to apply the percentage you are allowed to prepay this year prior
to calculating penalty charge.
You CAN get a rate firmed up 3 months in advance of maturity via a Broker.
Hope that helps. You can PM me if you need to.
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Thu, Jun 4th, 2015, 07:08 AM #66
Just redid the mortgage
2.69 percent. I cut 10 years off and I am still paying the same monthly rate. Original was 35years with a rate of 5.19 now after 5 years I am at 20 years on a 5 year fixed rate of 2.69.
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Thu, Jun 4th, 2015, 05:43 PM #67
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Just received 2.45% variable rate through PC Financial's broke AVG for a rental property....not bad at all
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Fri, Jun 12th, 2015, 11:44 AM #68
This latest mortgage rates are very helpful know what is the current rate. I think this is the highest rate while comparing with previous rate.
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Fri, Jun 12th, 2015, 12:55 PM #69
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I found this?? Not sure if it helps you.
http://www.rbcroyalbank.com/rates/prime.html
babies teach us acceptance
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Fri, Jun 12th, 2015, 02:25 PM #70
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Fri, Jun 12th, 2015, 11:19 PM #71
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I found 4 others showing 2.85% is the prime interest rate for today's date, so I have no idea who's info is right??
http://www.bankofcanada.ca/rates/daily-digest/
https://www.nbc.ca/en/rates-and-anal...rime-rate.html
http://www.tdcanadatrust.com/custome...prime-rate.jsp
http://www.ratehub.ca/banks/scotiaba...FRCpaQodll4Amg
babies teach us acceptance
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Sun, Jun 14th, 2015, 10:23 PM #72
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Mon, Jun 15th, 2015, 10:52 AM #73Built Bars 15% off sitewide, free shipping when you spend $25. User the code LOUISE2020 to get another 10%
PC Insiders please use my code LR1507 you get $25 and I get $10 in points
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Mon, Jun 15th, 2015, 12:27 PM #74
Walks is right. I edited mine out because I had a brain fart. My excuse is my place is under renovation. Putting it up for sale. The total CHAOS interferes with my brain cells from time to time. Sorry!
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Fri, Jul 10th, 2015, 04:59 PM #75
I am seeing 5 year fixed 2.39% and variable rates starting at 2%!
Mat - Mortgage Agent
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