Mortgage rates increased by RBC and TD, eff tomorrow.

With impending interest rate increase, does anybody know if it is advisable to convert the variable rate to fixed rate mortgage?

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Originally posted by Aashu

Mortgage rates increased by RBC and TD, eff tomorrow.

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http://www.cbc.ca/money/story/2010/03/29/mortgage-rates-up.html


other banks to follow soon.........

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Originally posted by hchheda

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Originally posted by Aashu

Mortgage rates increased by RBC and TD, eff tomorrow.

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Hi Aashu,

Where did you get this news? Can you please share the source?

Thanks.
Hiren

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Our bank is offering 5 yr at 3.75 % today and will change soon....I guess it will be higher up from here on...so this is best available....

If you have Variable rate dont change it to FIX.

rate will not go that much higer, in long run variable will be profitable. dont just get drag with media

rate cant just jump to high ... it has to go slowly ,,, i am not that expert but i can say within 3 years it will reach to 4.5 or 5 MAX ( make your own calculation, y pay 3.75 % from now while you can pay much lower with variable at current time.

this is my opinion , take your decision based on your thinking !!!!

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

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Originally posted by Blue_Peafowl

rate cant just jump to high ... it has to go slowly ,,, i am not that expert but i can say within 3 years it will reach to 4.5 or 5 MAX ( make your own calculation, y pay 3.75 % from now while you can pay much lower with variable at current time.

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