# Decent mortgage rate?



## Monica (Jun 20, 2013)

Hi everyone,

Our mortgage is up for renewal, and we're being offered a 5 yr fixed rate at 2.79%. We're allowed up to 25% of the principle as extra payments as well. Thoughts?

Appreciate your input!

Thanks.

Monica


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## Chris L (Nov 16, 2011)

My first mortgage in 2001 was 7% and I was lucky to get it.


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## jamesbe (May 8, 2010)

That's a great rate right now! Take it!


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## Addy (Mar 12, 2010)

You can do better than that, check the posted rates out here: http://www.redflagdeals.com/feature...-savings-rate-comparison/canadian-rrsp-rates/

Keep in mind these are the posted rates, a broker should be able to get you better rates than this even. If you go straight to a bank they will give you the posted rate with no cuts unless you're already an excellent long term customer.

There's no harm in contacting a mortgage broker and asking what rates he or she can get for you. If you need a good broker I can forward you contact info for the one we use, but really any mortgage broker is probably able to give you an idea of what rates you can get. Actually I'm away starting tomorrow so I will pm you his info but don't feel you have to contact him.


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## Addy (Mar 12, 2010)

Monica I can't pm you so if you want the info message me and I'll do my best to get back to you as soon as I can.


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## Echo (Apr 1, 2011)

@Addy, you're linking to RRSP rates for GICs 

Here's the Fiscal Agents mortgage rates - http://www.fiscalagents.com/rates/mor_clo_sort.shtml

I don't think you're going to find a better rate than 2.79% for a five year fixed.


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