Is this a good rate?

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m2611
Member since: May 04

Posts: 314
Location:
Post ID: #PID

Posted on: 10-09-10 13:41:16

I am getting Prime minus 0.7 from TD, BMO etc..

Is this a good rate ?
Of Course that was before recent changes in prime

Now prime I guess is 3.00 %

Should I expect Prime minus 0.8 or 0.9 from bank soon ?

m2611
Member since: May 04

Posts: 314
Location:
Post ID: #PID

Posted on: 10-09-10 16:56:48

Quote:
Originally posted by ashedfc

Quote:
Originally posted by m2611

I am getting Prime minus 0.7 from TD, BMO etc..

Is this a good rate ?
Of Course that was before recent changes in prime

Now prime I guess is 3.00 %

Should I expect Prime minus 0.8 or 0.9 from bank soon ?

Looking at the Bond market activity, there are ample chances of Prime -0.8% or 0.9% is on the way, but the problem is when is your closing (or refinance whatever).

My closing will be around Mid of November
so I think, better wait & watch for another 2-3 weeks

Bingo
Member since: Jan 07

Posts: 198
Location:
Post ID: #PID

Posted on: 14-09-10 08:56:24

Quote:
Originally posted by Pramod Chopra

Just out of curiosity, what rate are you being offered for this 5 year variable rate, how is the interest compouned and when is the closing. Just for fyi, a variable rate mortgage for a 3 year term at prime -0.8% is available through broker channels.

Good Luck.

Prime - 0.8 % closed 5 years ,closing 6 weeks away.Does broker Channels have some better offers then Banks

kalia
Member since: Dec 03

Posts: 155
Location: Canada
Post ID: #PID

Posted on: 18-09-10 17:46:57

Quote:
Originally posted by Bingo

Quote:
Originally posted by Pramod Chopra

Just out of curiosity, what rate are you being offered for this 5 year variable rate, how is the interest compouned and when is the closing. Just for fyi, a variable rate mortgage for a 3 year term at prime -0.8% is available through broker channels.

Good Luck.

Prime - 0.8 % closed 5 years ,closing 6 weeks away.Does broker Channels have some better offers then Banks

Please have a look at below link
Astrum Financial Services offering a 5 Year Fixed Mortgage Rate at 3.19%!
and variable is prime -1% for 3 years.

http://astrumfinancial.ca/

Anyone heard of this company?

Can you someone confirm if they are reliable?

Thanks,

pranavshah77
Member since: Feb 05

Posts: 92
Location:
Post ID: #PID

Posted on: 19-09-10 12:46:06

Kalia

So great rate for mortgage. saying 15 % down and 15% monthly increase, not bad but still i dont even heard about this company too.

need more reserch , i think ashedfc and promodji can guide more on this topic.

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pranav shah

Blue_Peafowl
Member since: Dec 08

Posts: 1351
Location: Brampton, Ont, Canada
Post ID: #PID

Posted on: 20-09-10 16:26:14

Those rates are tricky – u only gets that rate if your realtor willing to negotiate with Astrum.

READ Carefully ( this line is from their website) “””This rate special is for clients purchasing Real Estate that have a Purchase Contract.”””

I'm not 100% sure but I'm assuming Astrum buy back rates from client by taking some commission from realtor -

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

rajcanada
Member since: Jul 03

Posts: 2713
Location: Kitchener, ON
Post ID: #PID

Posted on: 24-09-10 16:56:24

Quote:
Originally posted by Blue_Peafowl

Those rates are tricky – u only gets that rate if your realtor willing to negotiate with Astrum.

READ Carefully ( this line is from their website) “””This rate special is for clients purchasing Real Estate that have a Purchase Contract.”””

I'm not 100% sure but I'm assuming Astrum buy back rates from client by taking some commission from realtor -

I contacted the company Astrum and they said they are only contacting realtors to promote their business if the realtor is willing. "Mr. ABC got good rates from our company, would you be willing to offer these to your other clients" as he put it. Rates are from Industrial Alliance and valid for closing within 60 days.

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Contributors: Blue_Peafowl(15) pranavshah77(13) dudewheresmycar(11) Pramod Chopra(9) birentoronto(4) Bingo(3) pratickm(3) quest(2) rahul_singh23(2) m2611(2) kalia(2) RBO(2) Dead Town(2) mumdxbcan(2) navin2004(2) Desi # 1(1) rajcanada(1) mkannuri(1) Gappi(1) dalsania_nh(1)

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