请问现在Scotiabank5年固定利率最低能到多少？
- 主题发起人 CFCBUG
- 开始时间
Anita Lin - she is very good to provide a lower rate mortgage.
Email: anita.lin@scotiabank.com
Mobile: 613 731-4790
Work Phone: 613 260-3318
Email: anita.lin@scotiabank.com
Mobile: 613 731-4790
Work Phone: 613 260-3318
r u sure about this?:blink:
anyway, my suggestion is shopping around. Comapring all the rates you could get it.
I'd suggest my mortgage broker. She might not give you the best rate, but she indeed has the best service.
Amanda Farris, MBA, AMP
Mortgage Broker
Ph: 613-866-4089
Fax:1-866-759-3873
www.amandafarris.com
Amanda Farris, MBA, AMP
Mortgage Broker
Ph: 613-866-4089
Fax:1-866-759-3873
www.amandafarris.com
I am sure fixed rate has its advantage, but why not considered getting a variable closed rate and pay as fixed rate?
I understand that the prime rate is at its lowest and only can go up.
Variable rate: P-0.75%=2.25% (Alterna Savings)
Fixed rate: 4.19% (Scotia bank special posted online)
Difference: 1.94%
That's mean you are putting extra 1.94% into your principle every year.
Assume the rate goes up .25% every 6 months. 5 years = 10 increase = total increase 2.5%. (which is very very rare) at the beginning of the fifth year, the effective interest rate will be 2.25% + (8 * .25%) = 3.25%, which is still lower than the current fixed rate.
Imagaine, putting extra 1.5% every year for 5 years = 7.5% into principle by selecting variable rate and pay as fix.
That's what I am doing currently and in the past.
My 2 cents.
I understand that the prime rate is at its lowest and only can go up.
Variable rate: P-0.75%=2.25% (Alterna Savings)
Fixed rate: 4.19% (Scotia bank special posted online)
Difference: 1.94%
That's mean you are putting extra 1.94% into your principle every year.
Assume the rate goes up .25% every 6 months. 5 years = 10 increase = total increase 2.5%. (which is very very rare) at the beginning of the fifth year, the effective interest rate will be 2.25% + (8 * .25%) = 3.25%, which is still lower than the current fixed rate.
Imagaine, putting extra 1.5% every year for 5 years = 7.5% into principle by selecting variable rate and pay as fix.
That's what I am doing currently and in the past.
My 2 cents.
you can talk to my broker, recently, i have rental house she gave me deal from Scotia Bank, very very good rate
Jennifer Xie
613-8518807
binhongx@lendinghand.ca
Jennifer Xie
613-8518807
binhongx@lendinghand.ca
Oops, you are correct. 8*.25% = 2%
Why 8 instead of 10?
since first 6 months rate won't change, and last 6 months rate won't change on you even rate changed.
No one can predict how the direction of the prime rate, it's just one more way of thinking of how to manage our finance.
Just don't feel left out when you sign the fixed rate, and then heard this method and feel "darn, I should consider this before signing".
Will the prime rate goes up? We can look at what's the current mortgage pricing of major banks. Banks have professionals to predict Canada's economy and will adjust their rates(GIC, mortgage or other rate) accordingly. If they predict the cost of borrowing increases, they must have to increase thier lending price to cover their cost.
Everything above is just how I look at the market. Save this post for the next 24 months and see how it goes
Why 8 instead of 10?
since first 6 months rate won't change, and last 6 months rate won't change on you even rate changed.
No one can predict how the direction of the prime rate, it's just one more way of thinking of how to manage our finance.
Just don't feel left out when you sign the fixed rate, and then heard this method and feel "darn, I should consider this before signing".
Will the prime rate goes up? We can look at what's the current mortgage pricing of major banks. Banks have professionals to predict Canada's economy and will adjust their rates(GIC, mortgage or other rate) accordingly. If they predict the cost of borrowing increases, they must have to increase thier lending price to cover their cost.
Everything above is just how I look at the market. Save this post for the next 24 months and see how it goes
Oops, you are correct. 8*.25% = 2%
Why 8 instead of 10?
since first 6 months rate won't change, and last 6 months rate won't change on you even rate changed.
No one can predict how the direction of the prime rate, it's just one more way of thinking of how to manage our finance.
Just don't feel left out when you sign the fixed rate, and then heard this method and feel "darn, I should consider this before signing".
Will the prime rate goes up? We can look at what's the current mortgage pricing of major banks. Banks have professionals to predict Canada's economy and will adjust their rates(GIC, mortgage or other rate) accordingly. If they predict the cost of borrowing increases, they must have to increase thier lending price to cover their cost.
Everything above is just how I look at the market. Save this post for the next 24 months and see how it goes
shemozhuben
新手上路
- 注册
- 2010-07-31
- 消息
- 786
- 荣誉分数
- 31
- 声望点数
- 0
Better yet, why not go VM 2.25% and invest the saving in long term government bond(4%) and dividend stock?(3~6%) in TFSA? If interest rate rises, bond price will go down and yield will go up so I'll buy more bond. With stock, there's capital gain on top of dividend.
My reasoning is even after pay down all the mortgage, I still have to pay thousands of $ in property tax, heating, electricity etc. So it helps to have passive cashflow to pay for these expense.
Warning: This is not for everyone.
I am sure that works for someone as well.
I am happy to see people start using TFSA as part of their financial planning. I really like this product.
I am happy to see people start using TFSA as part of their financial planning. I really like this product.
