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07-31-2017, 01:09 PM
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#10251 | | My homepage has been set to RS
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Is a 2.64% (5 year fixed rate) good for today's market based on the BoC rate increase earlier this month?
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07-31-2017, 01:59 PM
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#10252 |
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it's a bit high, but could be worse?
not sure how to answer that.
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Originally Posted by jasonturbo  Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
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[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
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Originally Posted by westopher I'd probably blow someone for that 911 | | |
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07-31-2017, 03:00 PM
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#10253 | | My homepage has been set to RS
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Just wondering, since the rate increase from BoC, it seems that most banks are offering 2.99 or 3.09 for 5-year fixed. Coast Capital's lowest rate is 2.89% I thought 2.64% is competitive for the current market (yes, earlier this year you could likely have gotten lower), but wanted to know others opinions.
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07-31-2017, 03:12 PM
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#10254 | | I Will not Admit my Addiction to RS
Join Date: May 2014 Location: Home*
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^ you can get 2.59 easily. have you walked into a back or just reading on print
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07-31-2017, 03:46 PM
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#10255 | | What hasn't Killed me, has made me more tolerant of RS!
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My friend literally walked into a bank and got 2.3 - I think it was RBC.
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07-31-2017, 03:48 PM
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#10256 | | Willing to sell body for a few minutes on RS
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^
What Term though?
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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07-31-2017, 04:16 PM
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#10257 | | I have named my kids VIC and VLS
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Originally Posted by Gh0st My friend literally walked into a bank and got 2.3 - I think it was RBC. | When? he didnt on a 5 year fixed in the last few months. A good buddy of mine is head of a branch of RBC DS and he recently reupped on a 5 year fixed at 2.4X, branch + employee rate
We got 2.34 back in October through a good friend private mortgage broker.
At this point it seems like you'd be lucky to get 2.3X on a variable and 2.3 on a variable when banks are setting their lines at 2.8/2.9 is pretty dicey
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07-31-2017, 04:47 PM
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#10258 | | My homepage has been set to RS
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Originally Posted by Rallydrv ^ you can get 2.59 easily. have you walked into a back or just reading on print | 2.59 on a 5 year fixed? Or are you talking about a variable rate? I would really like to know where if you are talking fixed.
I've been dealing with a mortgage broker, plus doing my homework on the side, and 2.64% at 5 year fixed seems to be the best option at present time, but would like to be proven wrong.
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07-31-2017, 07:54 PM
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#10259 | | I STILL don't get it
Join Date: Feb 2010 Location: VanCity
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We've been shopping around and my fiancé is an RBC employee. We locked in 2.69% and I'm pretty happy with that. Seems like it's 3.0 and up everywhere else we checked. Rates will go up again in September, and multiple times in 2018 so I think you are solid with 2.64%
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07-31-2017, 09:33 PM
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#10260 | | I STILL don't get it
Join Date: Dec 2003 Location: Vancouver
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Originally Posted by Liquid_o2 2.59 on a 5 year fixed? Or are you talking about a variable rate? I would really like to know where if you are talking fixed.
I've been dealing with a mortgage broker, plus doing my homework on the side, and 2.64% at 5 year fixed seems to be the best option at present time, but would like to be proven wrong. | 2.64% is a great rate for a 5 year fix. I believe HSBC is doing a promotion for a 2.59% five year fix. Anything lower is probably a variable rate.
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08-01-2017, 02:55 PM
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#10261 | | I *heart* Revscene.net very Muchie
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Our mortgage broker came back to us with a 3.09% 5 yr fixed with Scotia, citing that's as good as it gets. We did some research after, and either this guy is trying to play or just not very good at his job....
Its odd because the rate he got us a couple years back on our current variable was competitive, though not rock bottom
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08-01-2017, 03:19 PM
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#10262 | | Willing to sell body for a few minutes on RS
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^
I just checked with my bank and RBC is offering me 2.89% today on a 5 year fixed, again not the best but typically big banks are not the cheapest. I really don't mind paying a bit of a premium for convenience so if I was renewing today I'd sign it but I have to wait until September to hit my 120 days.
I had a real bad experience with Scotia about 5 years ago, ended up paying a penalty and pulling my mortgage and every investment we had there out after being a customer for almost 20 years. It was still cheaper in the long run to leave, they tried to bend me over on a fixed rate.
I had hedged at the time, had half my mortgage locked in and half was open variable. When I went to lock in my open variable they wouldn't come close to matching what everyone else was offering, I want to say they were 0.75% higher. They figured since I had half my mortgage locked they could do whatever they wanted and I'd have to pay it. I got a spreadsheet and showed them that if I paid the penalty, left and locked in down the street I'd actually be saving money over 5 years. They told me to pound sand so I came in later that week and pulled everything out, Mortgage, RSP's, RESPS, savings every penny my wife and I had. At that point they wanted to negotiate and keep my business. I told you exactly what I was going to do you didn't believe me and now that I'm doing it you want to talk? Yeah fuck you.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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08-01-2017, 03:33 PM
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#10263 | | I STILL don't get it
Join Date: Feb 2010 Location: VanCity
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Yea that's fuckery. We also checked with scotia last week and they offered us 3.05% @ 5 year fixed...said the same thing: best they could offer.
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08-01-2017, 04:38 PM
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#10264 | | I told him no, what y'all do?
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hope you gave 'em one of these on the way out 
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http://www.revscene.net/forums/showthread.php?t=611711 Quote: Greenstoner
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[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
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08-01-2017, 04:55 PM
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#10265 | | I Will not Admit my Addiction to RS
Join Date: May 2014 Location: Home*
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since 2012 i was at 3.09%, renewed at 2.39 last month fixed @ 5. and last week for pre approval (same bank) i was offered 2.59 @ 5.
it depends on ur down/ salary/ equity and history with the bank (i only have mortgage w/ this bank, nothing else). im sure if i walked into another bank, id prob. get 2.69 minimum. that said. stress test will be done at a higher percentage point, which i think is awesome.
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08-01-2017, 05:01 PM
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#10266 | | RS controls my life!
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More insider info from someone who sees this day in/day out.
HSBC offers the best rate out of big banks. Should be 2.3-2.4% even on fixed 5 years.
CIBC has decent rental income if you have basement/laneway homes.
TD/RBC take aggressive discounts on rental income.
Seems like Port Moody really gaining traction. For those who can afford to wait - Onni's Grande project has sold 50% in a few weeks but averaging $750/ft for fairly high end finishings. Should be a good addition to Suter Brooke.
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08-02-2017, 08:42 AM
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#10267 | | RS.net, helping ugly ppl have sex since 2001
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Go Canucks go!
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08-02-2017, 09:14 AM
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#10268 | | Old School RS
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Originally Posted by JDMStyo More insider info from someone who sees this day in/day out.
HSBC offers the best rate out of big banks. Should be 2.3-2.4% even on fixed 5 years. | Can you back that up? Seems highly unlikely. I have never seen 2.3% on a 5-year, and rates are certainly higher now than they were say 3 months ago. I work for one of the big banks and my staff rate for a 5-year is 2.59% today.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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08-02-2017, 09:26 AM
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#10269 | | RS.net, helping ugly ppl have sex since 2001
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Walked into HSBC the other day, 2.59% @ 5 year fixed. Still the best out there of the big banks.
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08-02-2017, 09:47 AM
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#10270 | | Need to Seek Professional Help
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Originally Posted by lowside67 Can you back that up? Seems highly unlikely. I have never seen 2.3% on a 5-year, and rates are certainly higher now than they were say 3 months ago. I work for one of the big banks and my staff rate for a 5-year is 2.59% today.
-Mark | what he said is true. its been 2.3ish% on 5 year for awhile. Even staff rate before the hike was 2.34% (and this was not with HSBC).
HSBC is still the best rate right now for the public
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08-02-2017, 09:51 AM
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#10271 |
Join Date: Apr 2006 Location: Burnaby
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when I went to hsbc two years ago they offered .3 lower than vancity.
in the end I went with vancity, but it still makes me wonder how theyre able to offer lower races still.
__________________ Quote:
Originally Posted by jasonturbo Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
Originally Posted by SkunkWorks This wouldn't happen if you didn't drive a peasant car like an Audi... | Quote:
[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
| Quote:
Originally Posted by westopher I'd probably blow someone for that 911 | | |
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08-02-2017, 04:23 PM
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#10272 | | OMGWTFBBQ is a common word I say everyday
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08-02-2017, 06:15 PM
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#10273 | | I subscribe to Revscene
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Cliff on trading property in Canada... is it possible and does it need to be the principle home ect to avoid tax?
Trade Properties To Keep The Tax Man At Bay https://www.forbes.com/2010/02/24/tr...ance-swap.html Quote: |
A like-kind exchange might not be as easy as the baseball card trades of your youth, but it does let you trade your investment properties and keep the taxman out of the deal. By continually entering into these like-kind exchanges, investors can execute real property transfers to increase or decrease exposures to certain property sectors, and at the same time defer capital gains until the properties are eventually sold for cash. Once you understand the rules of the game, this is a great way to efficiently rebalance your real estate portfolio.
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08-02-2017, 09:16 PM
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#10274 | | Wunder? Wonder?? Wander???
Join Date: Sep 2016 Location: YYC/YVR
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Originally Posted by CharlesInCharge | The main way the hard core speculators are evading taxes is by purchasing property through a bare trust company, and then selling the company from person to person rather than the property itself.
That way they don't have to pay land transfer taxes, technically the ownership of the property never changes, only the owner of the company. They also don't have to pay capital gains even though the property has gone up in value, similar to how you don't pay taxes on stocks until you actually sell them and realize the gains.
There is a huge grey market for this in Vancouver, and I've heard a lot of these properties are listed on Chinese only sites to evade detection and never actually hit MLS.
**Disclaimer: Hearsay only!**
It has been highlighted in the news before though; http://bc.ctvnews.ca/real-estate-loo...axes-1.2874603
I did find this quote amusing, kind of makes me think I should buy my next property through a trust, lol Quote: |
As a society, if every single person created a bare trust and bought every property in a bare trust there would be no more property transfer tax collected in British Columbia
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Last edited by MrPhreak; 08-02-2017 at 09:26 PM.
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08-02-2017, 09:24 PM
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#10275 | | y'all better put some respeck on my name
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Originally Posted by Tapioca | I would say a majority of sellers and RE agents are living in 2015 because no one is paying $2m for a tear down or even $1.5m for that matter so listings will continue to increase and sales will continue to sag until sellers wake up to the new reality and start pricing homes to match current market conditions.
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