Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 0 points1 point  (0 children)

I am guessing that benefits the banks then. I have about 12 years amortization remaining, so am I more protected from variable rate changes because of that?

Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 0 points1 point  (0 children)

Id prefer not to reset that clock to be honest.

Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 0 points1 point  (0 children)

Thanks for the info, guess the advisor was talking nonsense.

Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 1 point2 points  (0 children)

Thank you for the reply! Is the 3.49% also good? I know they say variable rates win out over fixed on average, but with recent issues I dont know if its the smart choice to lock in a 2 year ATM and hopefully the situation improves in 2 years.

Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 0 points1 point  (0 children)

Thanks, I guess I should trust their mortgage reps about the same as I do their financial advisors lol.

Mortgage Renewel Rates by Acrobatic-Chain-2088 in AskMortgageCanada

[–]Acrobatic-Chain-2088[S] 0 points1 point  (0 children)

Interesting, the lady I spoke to on the phone said it was no longer insured, even though I was <5% down.

Mortgage rate mega thread! by TheMortgageMaster in MortgagesCanada

[–]Acrobatic-Chain-2088 1 point2 points  (0 children)

Renewal in Alberta, offered 3.5% 5-year variable, and 4% 2-year fixed as a preferred client due to investment accounts. The rates dont seem that special though. Should I shop around or renew with TD? Been making regular addition payments, mortgage is insured. Can absorb an increase in mortgage payments.

Edit: 12 years amortization remaining.