本帖由 笑傲江湖 于 2005-04-19 发布。版面名称：我爱我家
I just heard a lower rate for 5-year fixed... let's see whether I can get it....
be very careful, your closing date is very likely to be delayed...when i was looking for my mortgage 1.5 years ago, 4.55% was not the best rate in the market then, but TD (as it was sort of with my builder) was the only one which would gurantee the rate to my closing, not matter when it was...
it turned out that the builder delayed my closing for nearly 2 months...
Yes, I hear you.
The rate I am looking for is good for 12 months... You are right, 小傻, if they can only hold the rate for 3 or 4 months, that will not work for me.
No one knows, it seems. So let me rephrase my question: how often does a variable rate compound? Is there a norm in Canada? My impression is that ALL banks compound twice a year, but was now being told otherwise. What is it?
For variable rates, some compound semi-annually, some compound monthly while some compound daily... There is no norm in Canada for variable rates......... so you have to ask the bank...
Only fixed rates compound semi-annually in Canada, regardless which Financial Institution you deal with...
Guys, do we have enough discussion in this thread
just make a simple call and ask all those question to the banker
Oh hohoho, you wouldn't believe the ignorance I've experienced! Like I said, no one really knows.
Scotia Bank offers 4.50% for 5-year fixed, but the rate can only hold for 120 days.
How do you guys in the bank judge this? Say, A's score in Credit Bureau is 799, what does that mean? say B's score is 780, is there any big difference between A and B?
your classmate 小傻
BMO的是monthly compounded的。起码现在OFFER的那个PRIME RATE 减很多的那个是。
CIBC的那个是SEMI ANNUALLY的，起码现在那个OPEN 的PRIME RATE的那个OFFER是。
No, my closing date is in Oct....