At this time I have open Variable mortgage at the rate of .85% + prime. Someone is offering me Variable Closed Mortgage for five years at the rate of .3% Below Prime.
Should I switch or wait?
Any thoughts on this?

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From what I have heard is the banks will start offering higher discounts. Offcourse there is no guarantee of that.

I renewed my mortgage in Oct 2009 and am on open variable (prime + 0.2).

A colleague at work is being offered variable closed at p - 0.7, if he waits till the summer

In your case, I'd try and negotiate with the bank and get a lower open variable for now.

Good luck.. you have to push the banker real hard. That's what I did last year.

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SS
Reiki Grand Master

any better rates rightnow...for variable..
I been offered Prime for closed variable and prime plus .3 for open variable frm TD.

any other inputs?

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I got offered at Prime - 0.3 for 3 years variable and prime -0.2 for 5 years.

can anyone tell me please is it good or still i can push them to give good rate?

please share your experience.

Thanks

Would you mind telling me who is giving that variable rate, you can PM me, if you dont want to disclose that in the forum.
Thanks

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Dont help others because others have helped you,,,,help others because its the right thing to do!!!

http://www.indopia.in/

Quote:

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Originally posted by RESP

Would you mind telling me who is giving that variable rate, you can PM me, if you dont want to disclose that in the forum.
Thanks

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