Thanks in advance for your comments and constructive feedback.
I’m looking to take out a 35 year mortgage on a condo I recently closed on in Edmonton. Final mortgage documents will be in place within the next 10 days.
The bank has offered three options, first, a floating rate (which is what I have on all my other property’s) at prime plus one, the second option is a 12 month term at 4% or the third option is 5 years at 4.79%.
My questions to the group are (a) your thoughts on the options proposed, (b) where you feel rates are headed and over what time line, Â given these options which one you would select and why.
Regards
Rick
I’m looking to take out a 35 year mortgage on a condo I recently closed on in Edmonton. Final mortgage documents will be in place within the next 10 days.
The bank has offered three options, first, a floating rate (which is what I have on all my other property’s) at prime plus one, the second option is a 12 month term at 4% or the third option is 5 years at 4.79%.
My questions to the group are (a) your thoughts on the options proposed, (b) where you feel rates are headed and over what time line, Â given these options which one you would select and why.
Regards
Rick