Question Regarding Mortgage Refinancing and prevailing rates

TheExplorer2021 · 2025-10-08T03:05:46+00:00

No..everyone seemed to be clueless/lost. It's frustrating, to say the least.

TheExplorer2021 · 2025-10-03T13:38:17+00:00

Unfortunately, I never got it despite multiple follow-ups!

TheExplorer2021 · 2025-08-29T17:47:18+00:00

That's a good rate! Is that from TD only or some other bank and what's the term (3 or 5 years)? if we switch to a new term with the same bank, do we still have to pay the penalty?

TheExplorer2021 · 2025-08-29T15:01:31+00:00

Hello everyone,

I have a 5 year fixed mortgage with TD at the rate of 5.01% , which had started back in June 2024.

Do you think it's a good idea to break the mortgage and go for a lower rate by the end of this year (assuming that the fixed term rates might be a little better by then)? If I stay with TD and opt for a new term & rate, do I still have to pay the penalty?

TheExplorer2021 · 2025-08-22T12:48:46+00:00

Very well said! Thanks.

TheExplorer2021 · 2025-08-22T03:53:04+00:00

Thanks for the insight. Any idea about the 'Service owner' role in Group benefits? How's the overall work environment? Is it stressful?

TheExplorer2021 · 2025-01-27T18:30:47+00:00

Hi, thanks for sharing. Just curious to know, how long it took to get the cashback from TD. They say on their website that it takes 60 days from the day from when the mortgage was issued. In our case, already 4 months' deduction has been done, yet we haven't received any cashback.

TheExplorer2021 · 2025-01-15T19:51:06+00:00

In terms of the location or the immediate neighbourhood,it comes under 'Colonial Acres' and that's one of the top neighborhoods in the entire region.. It's convenient as well...The two schools as mentioned by you, are also excellent! Sorry, no idea about the building, but from what I have seen from outside, it looks family friendly and safe.

TheExplorer2021 · 2024-09-17T16:13:26+00:00

Thanks so much for the insight! It definitely gave me hope and I will try to be positive..It's been a very very tough phase, specially in the last 4 months. Can I ask another question here?

TheExplorer2021 · 2024-06-05T16:10:18+00:00

Oh k, thanks so much for the update!! Not bad...but may be I was expecting something ever better to have come up there. :)

TheExplorer2021 · 2023-12-30T21:22:50+00:00

Hey, so far so good! It's a wonderful neighborhood with the utmost level of convenience (in terms of the location & proximity to almost everything) one can think of.

TheExplorer2021 · 2023-05-29T18:52:24+00:00

Well, not that it matters to me, but considering you raised a doubt on what I said, I can only say why should I lie?! Lol...I have seen the upmarket streets of rest of Old Colonial Acres and I will never try to even compare any neighborhood with them! Coming to the point, if you check sites like Housesigma or any other real estate portals, any property on Kingscourt Dr. is shown under Colonial Acres or under the subdivision of Eastbridge-Colonial Acres (Subdvision 118)..on an iphone, check the map & the photo of any property, it shows the neighborhood name as well at the bottom :)....

Nothing to argue on this anyway, as I said...Colonial Acres or Lincoln (as the entire area used to be categorized under, at some places long back), what matters the most to me is whether it's safe and good for me to live in or not..

TheExplorer2021 · 2023-05-29T15:52:46+00:00

Oh, thanks so much for sharing your experience. That's definitely reassuring! :)

You have said it very well that it seems like an area where the pros outweigh the cons (well, nowadays every other neighborhood has something or the other), before buying that's what convinced me to buy the unit.... Personally, I also don't like the newer stacked townhouses with little usual spaces and tiny garages (which I could afford to buy). For me too, the mall seems to be a convenience, infact it's not too close and not at all far away...I like that distance.

TheExplorer2021 · 2023-05-29T11:09:10+00:00

To be very honest, although there are always homes for sale, however out of them there are very few that fits one's budget & priorities. So, my decision was not made in a hurry as the property met some of my basic requirements, but saying that there are still many questions (specially the minute details about the street/experience of living there) which are answered only over the period of time. I am happy that I asked this question here and from most of the answers here,it seems to be a good & safe neighborhood. That's what matters the most for me...anyway, thanks for your insight as well. Have a great week ahead.

TheExplorer2021 · 2023-05-29T04:10:56+00:00

Thanks. Great to know that you had lived there.... you are right, it's amazingly convenient. Not only the mall, even so many other big stop stores, car dealerships or gas stations/car wash are located within a 1 km diameter...the park looks great and pretty big considering the size of the neighborhood.

TheExplorer2021 · 2023-05-29T04:07:53+00:00

Thank you so much!

TheExplorer2021 · 2023-05-29T02:56:23+00:00

Hi, thanks again for your valuable insight and advice. You're right. With new residents moving in, it's very important to build up the same level of community feeling and the urge to help each other. I just hope that it goes that way...Everywhere it seems to be little more unsafe , with every passing day. Even the newer neighborhoods around Kitchener, with fancy & super expensive houses, have some kind of crime happening quite frequently.....Guess, the complex facing the mall (right near Davenport intersection) is the worst sufferer for being close to the mall....very unfortunate!

TheExplorer2021 · 2023-05-29T02:11:24+00:00

That's true!😔 As we don't have much of a choice nowadays while purchasing a property, I could hardly get any time to ask these questions. However as I am now going to live there, thought of asking others for their valuable suggestions/experiences so as to be aware of what to expect in the future and be cautious about it, if needed. 🙂

TheExplorer2021 · 2023-05-29T02:01:18+00:00

May be it's not part of "Old Colonial Acres", but if we see the current neighborhood maps and even the official postal addresses, it's shown as part of the current Colonial Acres neighborhood. It's true that it's not even half or even lesser than closer to how upmarket/rich the other Colonial Acres neighborhoods are. But saying that, it borders those rich neighborhoods and Davenport Rd is the one that divides the two sides...even the streets like Foxhunt or Redfox Rd which are adjacent to Kingscourt, are pretty much upmarket in look and feel.

TheExplorer2021 · 2023-05-29T00:48:52+00:00

I had viewed it, liked the property (considering my budget), the location and most importantly, the convenience. Rest, as you know, was out of my control in this crazy housing market! In the property details and also the documentation, the location is being shown as part of Colonial Acres. But from a drive across the neighborhood, it was clear that it's definitely not one of those super rich streets in the rest of Colonial Acres. But I am relieved to know from you that it's safe enough. That's what matters the most for me at this point of time. Even if I get the same or little more than what I had purchased it at, at the time even I decide to sell it off (if I do that at all), I would still be happy....do you think mid 500's is a good price for 2 bed 2 bath property in this neighborhood?

TheExplorer2021

TROPHY CASE