Should I take 4.3% Fixed for 5 years or 3.4% variable?


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Jack109   
Member since: Jul 04
Posts: 254
Location:

Post ID: #PID Posted on: 26-08-05 16:56:43

Should I take 4.3% Fixed for 5 years or 3.4% variable?

I was advised to go in for variable at the moment and then lock the rate once prime touches 5.15% which is now 4.25%.

Thanks,
Jack109



Smiley   
Member since: Mar 03
Posts: 1185
Location: USA

Post ID: #PID Posted on: 26-08-05 17:38:28

Yep

That sounds fine ..


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Smiley   
Member since: Mar 03
Posts: 1185
Location: USA

Post ID: #PID Posted on: 26-08-05 17:38:29

Yep

That sounds fine ..


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We will find a way or we will make one


Val   
Member since: Oct 03
Posts: 189
Location: Toronto

Post ID: #PID Posted on: 26-08-05 18:11:58

Can I ask who gave you that 4.3% rate?

Thanks



Azazf   
Member since: Oct 04
Posts: 508
Location:

Post ID: #PID Posted on: 26-08-05 23:04:32

Prime is going up at the end of september !!!! I dont like it but cant do anythin about it.............. gas prices are driving the markets crazy.


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Jack109   
Member since: Jul 04
Posts: 254
Location:

Post ID: #PID Posted on: 28-08-05 10:48:45

Please send me an email at and I will provide the contact information.



desi in ottawa   
Member since: May 04
Posts: 1627
Location:

Post ID: #PID Posted on: 29-08-05 12:56:21

Quote:
Orginally posted by Jack109

Should I take 4.3% Fixed for 5 years or 3.4% variable?

I was advised to go in for variable at the moment and then lock the rate once prime touches 5.15% which is now 4.25%.

Thanks,
Jack109



I am in the same position. I was offered 4.1% for 3 yrs closed. I believe that the prime rate has no direct relation to morgage rate as the mortgage rates are fixed by the banks on their own. So when the prime rate is 5.15, your mortgage rate may not be 4.3. It may be higher. Talk to your bank again.

DIO



Contributors: amit kalia(2) Jack109(2) Smiley(2) desi in ottawa(1) STHIRU18(1) northwind(1) Azazf(1) Val(1)



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