Best mortage rate
In this post i would like to discuss best mortage rate that peopleare are getting,
Let everybody know , what rate you are getting,
So everybody can get similar rate by negotiating,

-- Please don't post in ALL CAPS --

HI EVERY BODY I GOT 5 YRS 3.69 FIXED,
IS THIS GOOD RATE?
LET ME KNOW IF ANYBODY GOT BETTER THAN THIS ON,
ALSO I WANT TO KNOW WHICH ONE IS BETTER FIXED OR VARIABLE?
ANY THOUGHT

I am getting Half - Fixed for 3 years = 2.90
and Half Open Veriable = Prime - .35

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

Why would anyone get Fixed rate.
The Prime Rate will never go above 3.69% in the next 5yrs especially in this economic recession. Even if it does it will not be in the last 1 yr of the 5 yr term so you lose money in the total 5yr term. It is a simple math.

VARIBALE I WAS GETTING PRIME -0.40=1.85%,
BUT I CONSIDER FIXED,
THE REASON IS NEXT 1-2 YRS VARIBLE IS GOOD BUT IF IT WILL GO BACK 6% WHERE IT WAS BEFORE 2 YRS. THEN WE FEEL LIKE TOO MUCH WE ARE PAYING,

I WAS GETTING PRIME -0.40=1.85%,


Hi Do u get VARIBALE from any bank ?
or Mcap, industrial alliance ?

I try to get this rate from Bank and no one is giving me.

I WAS GETTING PRIME -0.40=1.85%,

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

I am getting following rates -

Variable - 2.15 % for 5 Year Closed
Variable - 2.75 % for 3 years open

Fixed - 4.14 % for 5 Years
Fixed - 3.79 % for 4 years
Fixed - 3.4 % for 3 Years

All this are from BMO

Not sure if those are good rates

Also one more question - Is it necessary to check credit history every time before getting Mortgage rates ?