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-   -   What Home Mortgage Rates have you guys been getting? (https://www.revscene.net/forums/574211-what-home-mortgage-rates-have-you-guys-been-getting.html)

SiR001 08-18-2009 11:14 PM
i'm at 4.99 for 5yrs...renewal is in November this year... any tips? only got $75K left on it...

dubzz24 08-19-2009 08:49 AM
Quote:
Originally Posted by SiR001 (Post 6553908)
i'm at 4.99 for 5yrs...renewal is in November this year... any tips? only got $75K left on it...
Definitely go for a variable. I just picked up a prime + 0.4% (currently 2.65%).

SiR001 08-19-2009 11:34 AM
Quote:
Originally Posted by dubzz24 (Post 6554333)
Definitely go for a variable. I just picked up a prime + 0.4% (currently 2.65%).
thanks, it's been a while since i've read on open/closed/duration terms.. any tips pro's/con's would be appreciated (saves me some time on homework)

dubzz24 08-19-2009 11:55 AM
Quote:
Originally Posted by SiR001 (Post 6554604)
thanks, it's been a while since i've read on open/closed/duration terms.. any tips pro's/con's would be appreciated (saves me some time on homework)
Well, mine is with TD, 5 year closed variable. Even though it's closed, they still allow pre-payments and increased payments, and it is portable. Only difference is if you drop the mortgage (sell without transferring or whatever) there is a 3 month interest penalty. On a $75K mortgage that's like $160 /month in interest. You're set!

SumAznGuy 08-20-2009 11:24 AM
Quote:
Originally Posted by dubzz24 (Post 6553891)
Old mortgage rate you got before prime dropped I assume?
A bunch of my co-workers got in last year when the variable rate was prime -0.8.

I on the other hand am stuck with a really shitty rate. :cry:

Jermyzy 08-20-2009 12:46 PM
Prime - 0.9% open variable from TD. I got this back in 2006 though.


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