# Good rates?



## jamesbe (May 8, 2010)

BMO offered me Prime -0.85 seems great to me (5 yr closed). 

Anyone see better out there?


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## andrewf (Mar 1, 2010)

What's your approx credit score? 

Sounds like a good rate to me, but you should be able to get your preferred lender to offer you same.


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## jamesbe (May 8, 2010)

No idea what my credit score is. I can only guess awesome haha I've never defaulted on anything an I pay off credit cards every month and have 2 mortgages in good standing.

BMO has been good to me, matching would not give me a reason to leave so if I can't do better why bother?

Just wondering if there are much better rates out there or not -1.00 -0.95? I don't think so but I've been wrong before 

EDIT: a quick google shows me True North offering -0.9...


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## GeniusBoy27 (Jun 11, 2010)

I've been offered prime-0.9% by CIBC.

What are the current 5 year-fixed rates? I'm being offered 3.5%. Anyone see anything better?


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## jamesbe (May 8, 2010)

3.49 is what I was told no negotiation. Hmmm seems like -0.9 is possible then...

Funny Turing was after getting the 0.85 quotei was quoted from a mortgage broker "the guranteed best rate" -.75... meh


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## kubatron (Jan 17, 2011)

the branches are killing us slowly with these rates (us=mortgage brokers). because we get a finders fee, our lenders can't come close to competing at prime-.90. of course I can and do buy rates down for clients because I would rather have them at a very little commission than no commission. 

prime-.90 is available through a mortgage broker from a lender called inalco or industry alliance. quebec-based 100+year insurance company. otherwise I have seen prime-.80 on a 3 year variable which is not bad, also available for buydown.

why 3 year? over 75% of mortgage holders refinance/switch/sell/etc - break out of their mortgage - after 3 years.


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## marina628 (Dec 14, 2010)

GeniusBoy27 said:


> I've been offered prime-0.9% by CIBC.
> 
> What are the current 5 year-fixed rates? I'm being offered 3.5%. Anyone see anything better?


I got a 3.39% with TD bank in November thena month ago we got 3.69% as our best rate for 5 year locked in on an investment property.Wish I had waited a couple weeks as we could have gotten 3.49% % with TD .


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## jamesbe (May 8, 2010)

Geezre-read my post, looks like the iPad turned it into gibberish.

Anyways, thanks for the info, seems like my rate is not bad at all, and considering the bank is willing to pay my break penalty of $500 it's even better.


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## kubatron (Jan 17, 2011)

@marina (and others) difference between 3.39 3.49 and 3.59 is marginal, don't sweat it, at least you got in under 4% vs 2 years ago at 5.5%+


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## marina628 (Dec 14, 2010)

My first mortgage in 1991 was 8.75% with First Line Trust ,we originally agreed to 9.5% with CIBC when we put our offer in but within 5 months the rates dropped.At that time we thought it was a good deal lol. I think in Aug 2009 our rate was 1.35 variable that was sweet!


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## logicfirst (Aug 19, 2009)

I just went in for a preapproval and got 3.79% for a 5 year closed. I know this is good, but are there better?? This was with TD by the way.


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## GeniusBoy27 (Jun 11, 2010)

The prior posts tell you our answers: 3.5% over 5 year closed is what we're getting.

(Give or take + 0.1%).


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