#9124711 - 09/06/17 02:51 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Screamin Type ARGH!]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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just locked in 2.19 for 2yr...but really contemplated going 3 to 5yr...but damn it don't wanna pay more lol. i've just been flipping cheap 2yr locked in rates for awhile and it seems work out good enough. figure why pay more now when no guarantee shit will go up in the future (it will but very slowly). so meh, will just pay the cheapest 2yr fixed in the future then too. If there is a trend of rate increase, the future fixed rate is going to be higher than now, no? Wile the 2 years fixed worked for you the last 5-7 years, it may not be in the 2.15% everytime you renew going forward. i know. that's fine, as since the increases will be so minor 'every 2 yrs' going fwd (at least it has been until now). rates will prob go up a bit more than usual over say the next 10 yrs but meh, not gonna split hairs over calculating the difference. not to mention i plan to try and pay off mine IN the next 10yrs so fuck dem bank s0n!
What's the rush paying off your mortgage?
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#9124730 - 09/06/17 02:58 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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Let the firesale of homes begin
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#9124768 - 09/06/17 03:12 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Hatorade]
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Lost^
Lost^
Unregistered
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I'm rolling with 2.64% for 5 years
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#9125861 - 09/07/17 12:48 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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I'm getting 2yrs fixed in December and getting rid of this burden ASAP. How come only 2 years? Just curious as to the strategy.
I'll have it paid off in less than two years if I do nothing.
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#9126265 - 09/07/17 04:37 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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^ amaze!
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#9126886 - 09/08/17 08:31 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Cee_mon]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45550
Loc: Raptors Land
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Mine comes up in Dec with TD. Spoke w rep last week before the rate hike...decided to be a good husband and told the TD telephone rep I need to talk to the wife.....(rates went up a day later)
2 yr 2.64% 3 yr 2.99% 5 yr 3.06%
We aren't planning to move but 5 yrs seems like a long commitment. Thinking of going with 2 years and go from there.
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#9126904 - 09/08/17 08:46 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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iamfob
Post Master Supreme
Registered: 09/06/02
Posts: 24698
Loc: Out There
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I'm getting 2yrs fixed in December and getting rid of this burden ASAP. How come only 2 years? Just curious as to the strategy. I'll have it paid off in less than two years if I do nothing. Congrats man!
_________________________
FTMFW!!!
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#9126967 - 09/08/17 09:35 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: iamfob]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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It's not a big deal really. Still took longer than it should have, but heck, you gotta live a little too
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#9132887 - 09/15/17 11:14 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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Rates went up again. 2.79% for two years now.
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#9138229 - 09/22/17 07:06 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 107042
Loc: Barrie, Ont,
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Still variable here.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#9138293 - 09/22/17 08:58 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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Fixed and variable rates are just going to go up further, my thought was lock in now vs later when it's higher. I can already get the pre-recent-increase price.
I'd stay the course for now.
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#9138298 - 09/22/17 09:16 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6124
Loc: Toronto, Ontario
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I should add that I have two segments to my mtg. One is the variable and the other is a fixed at 2.45%. Perhaps the latter would balance out if I were to lock in for 5 years.
I need to make a decision today if I want the 3.04% rate
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#9138300 - 09/22/17 09:19 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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If it makes you sleep better at night then lock in.
Just understand you are accepting to pay a premium out of fear that's not based on anything fundamental. For you to be on the losing end of this mortgage rates would have to go up by half a percent within 2 years (at a quarter you are breaking even).
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#9138388 - 09/22/17 10:35 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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If it makes you sleep better at night then lock in.
Just understand you are accepting to pay a premium out of fear that's not based on anything fundamental. For you to be on the losing end of this mortgage rates would have to go up by half a percent within 2 years (at a quarter you are breaking even).
I have $6M in mortgages so the bank forces me to lock at 5 years.
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#9138514 - 09/22/17 11:56 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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In that case you should lock in
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#9138541 - 09/22/17 12:08 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6124
Loc: Toronto, Ontario
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I'm not concerned about payments and such. Its more of locking in when I could've benefited from my existing lower rate. But I guess thats the concern whenever you decide between variable and fixed
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#9138551 - 09/22/17 12:14 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: SuPeR-MaRiO]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44865
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Well if you are not concerned why lock in on rumors?
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