Posted on: 12-01-12 14:46:21
what are the best mortgage rates available these days?
recently BMO offering 2.99% fixed for 5yrs term. They are predicting some downturn in RE market and hence they are offering this incentives.
I recently checked variable rates from few banks which are in range of 2.6 to 2.9 % despite the Prime is unchanged but the discounts been reduced.
-----------------------------------------------------------------
MK
Yesterday news on radio was there is 10 % increase in Mississauga RE due to bad winter and increasing demand .
If RE market is predicting some downturn than all major banks should have lowered their prices . After all who wants to lose their market share .
Quote:
Originally posted by mkannuri
recently BMO offering 2.99% fixed for 5yrs term. They are predicting some downturn in RE market and hence they are offering this incentives.
I recently checked variable rates from few banks which are in range of 2.6 to 2.9 % despite the Prime is unchanged but the discounts been reduced.
-----------------------------------------------------------------
Growing Old Is Mandatory ..Growing UP is Optional
Thank you.. for your inputs.
Folks ,
Is it true that Banks would not be willing to give you the best mortgage rate if you put 50% cash down up front as opposed to 20% ?
Which is better (assuming some one has the cash flow ) :
a. Put in 20% down and take the best rate possible ( say 3% for 5 yrs fixed )
b. Put in 20% down and take the mortgage plan which offers max yearly payment possibility ... what I ve heard is that the max you can pay per year is 15% of your amount ( if you have cash to pay up as a lump sum ) , but ING Direct offers this possiility as 25% .
-----------------------------------------------------------------
Fido.
