3.69% 5 yr fixed mortgage?
- Thread starter aiden1983
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QUOTE (aiden1983 @ Mar 18 2010, 02:21 PM) I was just wondering if a 3.69% 5 yr fixed is a good rate or not? Seems good compared to posted but wondering what you guys think. Also a prime -.4 is on offer for variable is what you guys are seeing too?
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Sounds very good to me.
QUOTE (aiden1983 @ Mar 18 2010, 01:21 PM) I was just wondering if a 3.69% 5 yr fixed is a good rate or not? Seems good compared to posted but wondering what you guys think. Also a prime -.4 is on offer for variable is what you guys are seeing too?
QUOTE (aiden1983 @ Mar 18 2010, 01:21 PM) I was just wondering if a 3.69% 5 yr fixed is a good rate or not? Seems good compared to posted but wondering what you guys think. Also a prime -.4 is on offer for variable is what you guys are seeing too?
QUOTE (larysa002 @ Mar 19 2010, 07:50 AM) My broker in Toronto just sent 3.64%.
I just went to the TD bank yesterday Mar 20. They offer 5yrs fixed at 3.65%, but the closed variable is only prime - 0.15. If you can get it for 3.65% is good to go.
I just went to the TD bank yesterday Mar 20. They offer 5yrs fixed at 3.65%, but the closed variable is only prime - 0.15. If you can get it for 3.65% is good to go.
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QUOTE (aiden1983 @ Mar 18 2010, 02:21 PM) I was just wondering if a 3.69% 5 yr fixed is a good rate or not? ..
It`s a very good fixed rate .. unless you wish to go variable @ prime - 0.4% which may be lower over 5 years !
It`s a very good fixed rate .. unless you wish to go variable @ prime - 0.4% which may be lower over 5 years !
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Considering the average 10 year Bank of Canada rate is around 5%. Anything below that looks cheap especially if BOC rates shoot up.
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Do REIN members here believe the BOC rate will migrate back to it`s 10 year average of 5% any time soon?
QUOTE (tninvestor @ Mar 21 2010, 11:13 PM) I just went to the TD bank yesterday Mar 20. They offer 5yrs fixed at 3.65%, but the closed variable is only prime - 0.15. If you can get it for 3.65% is good to go.
QUOTE (tninvestor @ Mar 21 2010, 11:13 PM) I just went to the TD bank yesterday Mar 20. They offer 5yrs fixed at 3.65%, but the closed variable is only prime - 0.15. If you can get it for 3.65% is good to go.
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I do in 2-3 years
QUOTE (luckyluciano @ Mar 23 2010, 07:07 AM) Do REIN members here believe the BOC rate will migrate back to it`s 10 year average of 5% any time soon?
QUOTE (luckyluciano @ Mar 23 2010, 07:07 AM) Do REIN members here believe the BOC rate will migrate back to it`s 10 year average of 5% any time soon?
QUOTE (housingrental @ Mar 23 2010, 11:13 AM) I do in 2-3 years
I think a lot of it will rely on how fast the U.S. economy bounces back. If we raise our interest rates, the Canadian dollar will become more powerful than the us dollar. (Sounds great for x boarder shopping, but would be terrible for our economy) The issue is our exports and manufacturing sector will hurt. (Oil in Alberta, Automotive, Mining etc.)
I see rates staying low for many years. (At least historically speaking) Rates will rise, but I think that variable is the way to go still! Rates will move up in the near term, but I doubt they will continue to move up. (If they do, it will be a great time to get your fancy cars from the US)
I think a lot of it will rely on how fast the U.S. economy bounces back. If we raise our interest rates, the Canadian dollar will become more powerful than the us dollar. (Sounds great for x boarder shopping, but would be terrible for our economy) The issue is our exports and manufacturing sector will hurt. (Oil in Alberta, Automotive, Mining etc.)
I see rates staying low for many years. (At least historically speaking) Rates will rise, but I think that variable is the way to go still! Rates will move up in the near term, but I doubt they will continue to move up. (If they do, it will be a great time to get your fancy cars from the US)
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QUOTE (JamesB @ Mar 25 2010, 08:06 AM) I think a lot of it will rely on how fast the U.S. economy bounces back. If we raise our interest rates, the Canadian dollar will become more powerful than the us dollar. (Sounds great for x boarder shopping, but would be terrible for our economy) The issue is our exports and manufacturing sector will hurt. (Oil in Alberta, Automotive, Mining etc.)
I see rates staying low for many years. (At least historically speaking) Rates will rise, but I think that variable is the way to go still! Rates will move up in the near term, but I doubt they will continue to move up. (If they do, it will be a great time to get your fancy cars from the US)
I share this view 100% !
Economies are still way too fragile in US and also in Canada for any significant BofC prime rate moves .. and still so much money on the sidelines that even 5 or 10 year rates will remain fairly low !
Also keep an eye on the US-China relationship that will probably turn uglier due to allegations of "currency manipulations", "product dumping", "environmental pollution" .. so I expect the US to tighten severely the imports by China into the US and thus, slower worldwide growth, thus more sluggish Canada economy too .. thus: continued low interest rates !!!!
I see rates staying low for many years. (At least historically speaking) Rates will rise, but I think that variable is the way to go still! Rates will move up in the near term, but I doubt they will continue to move up. (If they do, it will be a great time to get your fancy cars from the US)
I share this view 100% !
Economies are still way too fragile in US and also in Canada for any significant BofC prime rate moves .. and still so much money on the sidelines that even 5 or 10 year rates will remain fairly low !
Also keep an eye on the US-China relationship that will probably turn uglier due to allegations of "currency manipulations", "product dumping", "environmental pollution" .. so I expect the US to tighten severely the imports by China into the US and thus, slower worldwide growth, thus more sluggish Canada economy too .. thus: continued low interest rates !!!!
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Agreed!
I bet we get a .25 increase in July because there`s so much pressure on Mark Carney because of his deadline. Then maybe another .25 in the fall. Then that`s it for say six months or more as they sit back and see what the impact has been.
QUOTE (ThomasBeyer @ Mar 25 2010, 10:38 AM) I share this view 100% !
Economies are still way too fragile in US and also in Canada for any significant BofC prime rate moves .. and still so much money on the sidelines that even 5 or 10 year rates will remain fairly low !
Also keep an eye on the US-China relationship that will probably turn uglier due to allegations of "currency manipulations", "product dumping", "environmental pollution" .. so I expect the US to tighten severely the imports by China into the US and thus, slower worldwide growth, thus more sluggish Canada economy too .. thus: continued low interest rates !!!!
I bet we get a .25 increase in July because there`s so much pressure on Mark Carney because of his deadline. Then maybe another .25 in the fall. Then that`s it for say six months or more as they sit back and see what the impact has been.
QUOTE (ThomasBeyer @ Mar 25 2010, 10:38 AM) I share this view 100% !
Economies are still way too fragile in US and also in Canada for any significant BofC prime rate moves .. and still so much money on the sidelines that even 5 or 10 year rates will remain fairly low !
Also keep an eye on the US-China relationship that will probably turn uglier due to allegations of "currency manipulations", "product dumping", "environmental pollution" .. so I expect the US to tighten severely the imports by China into the US and thus, slower worldwide growth, thus more sluggish Canada economy too .. thus: continued low interest rates !!!!
QUOTE (mortgageman @ Mar 27 2010, 02:08 AM) Agreed!
I bet we get a .25 increase in July because there`s so much pressure on Mark Carney because of his deadline. Then maybe another .25 in the fall. Then that`s it for say six months or more as they sit back and see what the impact has been.
My bet would be .25 this summer and .50 in the fall. (To scare people a little more) This will be followed by a .25 reduction.
I think we should be taking bets!
I bet we get a .25 increase in July because there`s so much pressure on Mark Carney because of his deadline. Then maybe another .25 in the fall. Then that`s it for say six months or more as they sit back and see what the impact has been.
My bet would be .25 this summer and .50 in the fall. (To scare people a little more) This will be followed by a .25 reduction.
I think we should be taking bets!
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QUOTE (aiden1983 @ Mar 18 2010, 02:21 PM) I was just wondering if a 3.69% 5 yr fixed is a good rate or not? Seems good compared to posted but wondering what you guys think. Also a prime -.4 is on offer for variable is what you guys are seeing too?
Sounds quite decent to me.
Sounds quite decent to me.
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3 major bank jacked up the 5 year rates by as much as .60 basis points without a BOC increase. What gives here?
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The fixed rates in Canada work independantly to the prime rate. The fixed rates are based on the pricing in the bond market. So when the price on 5 year gov`t of Canada bonds increase and the spread narrows, eventually the banks will increase the rates.
The spread got very low a few weeks ago and their was an expected increase. The banks held their rates. The spread continued to narrow and they made a big move.
There are still a few banks and local credit unions that haven`t moved their rates, so you`ve still got some time.
The spread got very low a few weeks ago and their was an expected increase. The banks held their rates. The spread continued to narrow and they made a big move.
There are still a few banks and local credit unions that haven`t moved their rates, so you`ve still got some time.
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QUOTE (RCrein @ Apr 1 2010, 06:34 PM) What rate is still possible for a 5 year 6+ unit residential mortage? Any guidelines to recognize a deal? Thx
about 1% over 5 year GofC bond rate .. which is 2.8 to 3.0% .. so 3.8% to 4.0% right now .. assuming with CMHC .. and 1% higher w/o !
about 1% over 5 year GofC bond rate .. which is 2.8 to 3.0% .. so 3.8% to 4.0% right now .. assuming with CMHC .. and 1% higher w/o !