Hey everyone!
I'm currently with Scotia for a mortgage, which is up for renewal. They offering me 2.3% variable with the possibility of 2.25%.
However, a mortgage broker friend of mine says he can get 2.05% at another institution. I don't know which one but probably not a big 5.
Is it worth switching banks to do this? From my calculations on the $210,000 remaining balance, the savings between the two would be only about $1000 - $1200 over five years.
I've been with Scotia now for about 8 years....
Thoughts?
I'm currently with Scotia for a mortgage, which is up for renewal. They offering me 2.3% variable with the possibility of 2.25%.
However, a mortgage broker friend of mine says he can get 2.05% at another institution. I don't know which one but probably not a big 5.
Is it worth switching banks to do this? From my calculations on the $210,000 remaining balance, the savings between the two would be only about $1000 - $1200 over five years.
I've been with Scotia now for about 8 years....
Thoughts?