mortgage rates

[kumamake]

http://www.ratesupermarket.ca/best_mortgage_rates/

has anyone used any of the companies or brokers listed on this site.
And has anyone been able to get better rate recently than the 5 yr fixed/locked rate of 3.8% listed on this site?
i am up for renewal and just looking for a some negotiating power. CIBC has offered around 4.05 when i called to inquire, but i did mention it to them about the lower rates

 

[deltaforce]

Be cautious of low rate offers, read the fine print. It might sound good at first but you can get nailed with huge penalties later on for refinancing, selling your house, etc.

 

[stang]

I currently have a variable rate at 1.7%.

Can't wait to see what happens in my renewal year, LOL.

 

[fuji]

I currently have a variable rate at 1.7%

I'm at 1.6% variable, prime minus 0.9% for another 3.5 years or so and I recently read that inflation is running 1.6% in Toronto so in real terms my rate is ZERO.

I called the bank to ask them what sort of fixed rate they'd give me if I was interested in converting and all they would offer me is their posted rate of 4% at which point I laughed at them and hung up. If I were them I'd have split the difference and given me, say, 0.7% off the posted fixed rate--considering that currently my variable mortgage is double that off their posted variable rate.

I am seriously considering switching to fixed anyway because I suspect with all this government spending and stimulus that in a year or two rates are going to start to rocket up again but it's hard to switch knowing I've got such a sweet deal now vs. what is on offer.

 

[stang]

I called the bank to ask them what sort of fixed rate they'd give me if I was interested in converting and all they would offer me is their posted rate of 4%....

Unfortunately that's what I'm expecting too.

 

[aabbaa1975]

I'm at 1.6% variable, prime minus 0.9% for another 3.5 years or so and I recently read that inflation is running 1.6% in Toronto so in real terms my rate is ZERO.

I called the bank to ask them what sort of fixed rate they'd give me if I was interested in converting and all they would offer me is their posted rate of 4% at which point I laughed at them and hung up. If I were them I'd have split the difference and given me, say, 0.7% off the posted fixed rate--considering that currently my variable mortgage is double that off their posted variable rate.

I am seriously considering switching to fixed anyway because I suspect with all this government spending and stimulus that in a year or two rates are going to start to rocket up again but it's hard to switch knowing I've got such a sweet deal now vs. what is on offer.

Sweet! I 'd gamble a bit and stay with the variable rate over the fixed rate. Does not look like it will go up anytime soon.

 

[Cycleguy007]

Mine's currently at 1.9%. I've had variable for the entire time. It's always been better. Having said that, my current mortgage matures next year and I have heard the they may start to inch up again. I may consider locking in at a fixed rate next year.

 

[SkyRider]

I am seriously considering switching to fixed anyway because I suspect with all this government spending and stimulus that in a year or two rates are going to start to rocket up again.

The odds are definitely greater on rates going up rather than down in 2-3 years time. Isn't low mortgage "teaser" rates which got us into this economic mess in the first place?