各位说说最近拿到的好的MORTGAGE RATE?

[roc]

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[chhuili]

Mortgage rate varies from time to time. The five-year fixed rate for today is 4.6%. For other rates, please visit
http://www.ottawafamilyhome.com

 

[shusheng]

Scotia have something (called "Scotia right rate"?) associated with prime rate.
I *think* it's a 5 year term, with prime - 0.5% (current is 3.6% ?); scotia
could change the rate every 6 month, and you have the right to "lock" the
rate at anytime.

Any Cons/Pros for this ?

 

[fsfs]

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[chhuili]

最初由 shusheng 发布
Scotia have something (called "Scotia right rate"?) associated with prime rate.
I *think* it's a 5 year term, with prime - 0.5% (current is 3.6% ?); scotia
could change the rate every 6 month, and you have the right to "lock" the
rate at anytime.

Any Cons/Pros for this ?

It is complicated to answer the question. From what I am doing, there are following considurations:
1. First find the lowest rate in the current market.
2. If a client uses the variable rate, it means that the client may lock the rate any time after closing as we assume the current rate is much lower than the normal rate. Comparing two year close rate and three year cloase rate from different lenders will be helpful for the client to lock at the lower rate in the future.
3. Different lender has different rate with different conditions. Compare the conditions with the client's situation or requirement and find a lender.

If your closing day is a few months away, I suggest you apply for 5-year fix rate. The variable rate is alway prime less a constant number, so there is no need to fix at a variable rate. You can change to variable rate at/before closing day. The exception is in the promation period. For example, when the fixed rate was prime rate less 0.55% plus $1000 cashback for over $125,000 and you borrow $130,000 and prefer the variable rate, it is a good deal.

 

[fsfs]

4.65% 5 years fixed. scotiabank in ottawa