Best current interest rates?

[kramster]

Does anyone know what/where the best 5 year and variable rates are right now?

Also, can anyone tell me what a 'closed' variable is vs a standard variable.

Do people recommend using a mortgage broker, or is it just as easy to go to your bank where you hold your deposit and quote the best rate and get them to match it?

Maybe, just maybe, this bear has capitulated. There's a very unique house (not in Vancouver) that's been on the market for awhile that I'm thinking of putting an offer on. This could be a sign that the market is about to tank

[pianoexcellence]

Maybe, just maybe, this bear has capitulated. There's a very unique house (not in Vancouver) that's been on the market for awhile that I'm thinking of putting an offer on. This could be a sign that the market is about to tank

First of all, outside of vancouver, it is nowhere near as crazy, at least not in my neck of the woods.

So true about how now the market will "tank"...LOL. I find with my trading, right about the point where I find myself thinking "I hate this f****n stock I'ts time to take my loss and get the heck out" or when I think "I missed my chance to buy...I may as well buy now so at least I can get in"...usually that is just a couple of days before the market turns. I've learned to trust this instinct.

-p-

[Austin]

If it's a quick close, you can get a 3.79 5 year fixed at suttonmember.com You will need to work with a Sutton agent, however.

[islandlandlord]

Do people recommend using a mortgage broker, or is it just as easy to go to your bank where you hold your deposit and quote the best rate and get them to match it?

I recommend to always use a mortage broker. They can almost always get a better deal than an individual borrower; even from your own bank.

Austin's suggestion of sutton is a good option too; 3.79 5 yr fixed is hard to beat..

[kramster]

Wow, 3.79. That's 2 full % lower than BMO's advertised rate.
Is anyone else close? I am not using a Sutton realtor.

[househunting]

3.79 is a 30 day rate (quick close). 4.06 is their regular rate.

i got quoted 3.92% from TD for 5 years fixed today. And have until Feb 2010 to act on 3.85%.

[islandlandlord]

3.79 is a 30 day rate (quick close). 4.06 is their regular rate.

i got quoted 3.92% from TD for 5 years fixed today. And have until Feb 2010 to act on 3.85%.

With the 200k profit you just made and these rates, you're in a great position. Time to sit back and wait for the right property .

[bestplaceonmeth]

Would the last bear to capitulate please turn out the lights?

[DoDo1975]

3.79 is a 30 day rate (quick close). 4.06 is their regular rate.

i got quoted 3.92% from TD for 5 years fixed today. And have until Feb 2010 to act on 3.85%.

With the 200k profit you just made and these rates, you're in a great position. Time to sit back and wait for the right property .

Better yet, wait for the right price. Good rates are not a reason to buy in of themselves, regardless of what the average idiot has been doing.

[MikeStewartRealtor]

The best variable I've seen is prime -.10. Haven't really been paying attention to fixed rates with variables so low. I'd use a mortgage broker. Talk to a few to see who can get you exactly what you want.

[kramster]

Would the last bear to capitulate please turn out the lights?

How about instead: I'll just come back here and talk up the market (only in my area of course) to justify my purchase day in and day out, bringing my post count to hysterical levels in short order. Or not.

[bluegirl]

3.85% with coast capital.

It'll cost you 5$ tho membership to join...

[islandlandlord]

Better yet, wait for the right price. Good rates are not a reason to buy in of themselves, regardless of what the average idiot has been doing.

Of course low rates are not the only reason to buy; but they are certainly a bonus when you have 200k of tax free capital gain to use as a down payment. Its the icing on the cake.

Should the right property come up, that suits the buyers needs, he/she is in a great postion to buy. thats the point i was making.

The average idiot is the 5% down crowd that thinks his/her property will gain 50% in price before their 5 year renewal .

[Austin]

Actually, low rates can be a good reason to buy if in the future rates and inflation go up significantly while you hold the low rate.

Of course, this can be counterbalanced by house price depreication which may occur because of the resulting lack of affordability.

[Austin]

The best variable I've seen is prime -.10. Haven't really been paying attention to fixed rates with variables so low. I'd use a mortgage broker. Talk to a few to see who can get you exactly what you want.

Given the volatility in RE and interest rates over the last few years, I think over selling the variable rate is probably an unwise thing to do.