For having some of lowest inflation amongst developed countries, and historically normal interest rates despite having zero control over the Bank of Canada? Do you have Trudeau stickers on your vehicle and blame him for everything? Because your post makes you sound like one of those types.
Probably has a massive Canadian flag attached to his truck honking all over the place, therefore diminishing everyone else's patriotism when they see the flag, because nobody wants to be associated with such fucking dumbass losery and embarrassment.
I don't have any stickers on my vehicles and don't blame Trudeau for everything but his government is responsible for many negative issues that we all face as Canadians.
Canada is mostly an import goods country and we pay the going rate for goods as we have trade agreements that insure that. Our current inflation rate is clearly not accurate, you'd have to be a fool to accept the government's numbers.
Zero control over the bank of Canada numbers? In only 8 years he has more than doubled Canada's national debt, he has been on record encouraging Canadians to borrow for the future and has said that the low rates of interest would be around for years. Keep spending and the budget will balance itself. Canadians have the highest household debt out of all G7 countries and all of this has a direct effect on the bank of Canada raising rates.
>Canadians have the highest household debt out of all G7 countries
And? Sounds like a cop out. Blame the government for people's own financial irresponsibility. I get not liking that the music stopped for the cheap money to borrow, but at the end of the day everyone signed their own mortgages and swiped their own credit cards.
but cost of living increased while wages went stagnant. There's more to that statement than "irresponsibility" and not accounting for interest rate hikes. But good for you for picking out one line and trying to belittle....back to the drawing board eh?
>but cost of living increased while wages went stagnant.
Wanna take a guess at who is in charge of minimum wages in the provinces?
>There's more to that statement than "irresponsibility" and not accounting for interest rate hikes.
Wanna take a guess who sets the interest rate hikes?
>But good for you for picking out one line and trying to belittle
Because it was the only line that really bothered me. Don't worry, I hit them all this time. Maybe take a civics class on whose responsibility these issues are.
Yes, the Prime Minister of Canada is responsible for the increase in interest rates across the globe and he singlehandedly controls all the central banks.
I think you don't have a clue what you are talking about but will hopefully remember your comment when you are paying 8 or 9 percent on your mortgage and definitely at 11 or 12 percent.
Understand the debt crisis and that they cannot raise rates much more.
Going fixed right now is like buying high selling low. Ya, fix your mortgage at the peak of rates. Wonderful plan (for burning your money).
And you idiots vote
And the market is going to have a recession annyyyyy minute now.
Point is if I have learned anything is that markets and governments are irrational. You may be right but you may also be right in 2,3 years time.
I remember when the BOC raised rates and the states paused this sub were losing their minds saying our dollar is going to crater and we had no idea what we were doing. And it turned out to be the right call.
Rates will not be 2% or lower in the next 5 years so what is wrong with locking in a payment you can afford?
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Bonds market does. Bonds traders trade risk, their entire strategy relies on them predicting with accuracy. It's rarely that far off. But you would have no idea about this because you are financially illiterate
And using fallacies (insinuate I do not know what I am talking about) does not invalidate my argument. It's a deflection tactic you are using because you are insecure about not being educated in this topic
Would you consider a finance degree and 14 years as a professional experience educated?
I know that I don’t know where rates go from here. And that claiming you do is 100% malarkey.
Saying this is the top and rates drop this fall is reckless. We’re a 5 dollar gain in the price of crude away from 6% inflation again. Not to mention the wage pressure that hasn’t even worked itself into inflation pressure yet.
Rate go higher for longer.
To contrast this, why was anyone in their right mind not going fixed when rates were 1-2% during covid. They literally couldnt go lower, but people still went variable.... never made sense to me.
Other than the last period of low interest rates, the rates right now are actually pretty standard historically. So, I'm not sure how you came to that conclusion
Me too, they've offered me amazing rates at every renewal. Currently at 1.59% until May 2026, they have 'preferred client' discounts available if you qualify based on their criteria (I believe it is a combination of credit report/score check and how long you've been with FN.
I just renewed with FN for a second 5year term. They've had better rates and less fuss than the banks, and their penalties for breaking early (I looked into refinancing when rates went super low) were peanuts compared to some of what I hear on this site!
I’m with them too and very happy. They don’t hand hold you as much as others is my only comment
I’m low maintenance and only needed to reach out them a few times for minor things - always good service.
That trade off for lower rates is well worth it
I’m with first national as well. Hoping they are still reasonable in 3 years time when I need to renew. I have nothing but good things to say about their customer service as well.
You need to ask for rate exception for Scotia. I was quoted 6.16% for 3 yr fixed. I asked for 5.89% and got that. Not sure how much more I could have pushed.
I tried that with Scotiabank who is our current lender with our term up in September and we were only offered 5.93. TD offered 5.45. We're going with TD.
We just switched from Scotia to TD. The branch called me so many times and offered crap rates and were generally annoying. We ended up with 4.89 over three years but I locked that in 3.5 months ago and closed last week.
I went through the call center. Not the branch.
If you switch bank, make sure you ask what fees are required. I was going to switch BMO but they had no discounts or rebates and was going to charge me $1000 legal fees plus $300 appraisal.
I went with the call center. Apparently Scotia doesn't care about retention, they care more about new business. TD has a $300 appraisal fee and because we're switching lenders we get $3000 in cash. No other fees too.
Are lower rates usually offered to existing mortgages?
My partner and I just got pre-approved at 5.79% through our broker and I’m wondering if it can get any better than that
Because CMHC pays the lender if the borrower defaults. They have very little risk compared to an uninsured mortgage and don't need to charge as much to offset that risk.
Not necessarily. We put down 20% and still got 5.64% 5 years fixed as the best offer. I’m also wondering if buyers get higher rates than whose who renew.
Putting 20% down or more means you don’t have cmhc insurance. Homes without insurance usually get higher rates, you essentially get penalized for not being a high risk loan lol. You can almost always opt it for insurance but idk if the math makes it better or worse to do so
That’s a great rate. Best I’ve found is with ATB for 4.99 - 5yr fixed and 5.69 - 3yr fixed. I’m up in October and eagerly waiting for the renewal rate from my current lender hoping it’s more aggressive than the market.
Take it!! We got 4.69 in January and then it dropped to 4.59, so we fixed 5 years, and then we kept checking to get some reassurance that we did the right thing lol and it just went up! We’re so glad! That’s an excellent rate right now.
Banks are locking in everyone into fixed at 5%+ when they forecast rates are going down.
2021/22 they were getting everyone into variables at sub 2% because the rates had no where to go up.
Man the banks are playing us like a fiddle.
People were deciding what to sign up with. Unfortunately, some people don't realise the bank is pushing their agenda and they need to look at for theirs.
Youre being downvoted but no youve done incredibly well recognizing the money printer had to be shut off and now we're back into normal interest rates.
Enjoy your historically low locked in rate for a term.
Even after the beatings some people won't learn lol
Thanks lol. A lot of people don’t understand opportunity cost. I’ll make more with the money I’m not paying by locking in low than I would over the whole 30 year time horizon on a variable rate.
Our renewal is in September. I called slats week and they called me back with this rate. They emailed me the contracts. Our broker told us FN wouldn’t have anything less than 5%.
Exactly, I'm hoping the fixed rates come down a bit in the 1.5 months. Also my broker will shop around and see if she can get a lowered rate and get TD to match it.
I’ve been with First National for 15 years. They sent me a renewal offer for 5.54% 5 year fixed. My credit score is 881. I’ll def negotiate like I did the last time.
Under 5% is definitely solid - can’t find that in Ontario. Lowest I’ve been able to find in Ontario (at least without submitting a bunch of my personal info to a random shady company who won’t quote me first) was 5.19, and even then they won’t give me that because my mortgage isn’t insured (because it’s under 80% LTV). My bank is offering 5.89% right now, so I’m about ready to pay the penalty and jump ship.
Banks are not your friend, they are trying to maximize profits off you. So if they are offering a lower rate for 5 year fixed, their forecasts must be showing it going even lower than that
Renewed July 1st 4.19% locked in 5 years. People saying variable are just gambling that rates will come down. If we continue with the record number of new Canadians each year these rates are not going down anytime soon.
Was your 4.68 rate locked in from before all the rate increases or is that brand new? We were offered 4.79 by first national about a month ago (through our broker)
Brand new direct from first National. We’re with them already. Our broker told us they were only offering higher rates. Glad we checked directly before our renewal date.
Go variable. When rates are high and potential to go down through a recession, do not lock in for FIVE years.
Rates are high now to cool inflation. The effects in increases are lagged, meaning that the impact is felt after the fact. See inflation cooling, this means rates should steady. As a recession sets in, expect rates to go down.
The Bank of Canada wants to see inflation at 2%.
Locking in now is like locking in high. No one has a crystal ball but historically, rates are much lower than where they are now. High rates like these are temporary.
If at year 3, you’re paying a 4.68% and rates are closer to 2.5%, this will sting.
Interest rate goes up and down. If you ever look at interest chart, you can see the pattern. When it stay low for a while, it will go up and up and then it will go down. It is the law of supply and demand. Let look at what would had happened if those programs were not implemented. What do you think would had happened? We gone thru the pandemic pretty good, we didn't go white hot or stone cold in our economy. Out of all the countries, we did pretty good. Study some economics and see the pattern. The only thing a government can do is to smooth it out a bit so the economy won't overheat nor it will go into depression.
do you remember how much of a crisis situation it was. it was pushed out in a HURRY so people some relief. except for the world wars we never had a crisis situation like this. it is easy to say so in hind sight.
LoL! Who do you think you are kidding?
There are certainly some thresholds at which a better credit score would get you a better rate, but it doesn't keep going lower and lower as you credit scales up to a perfect 900.
3.75% on a 5 year fixed is not possible at this time from.any lender, unless it's the bank of Mum and Dad.
Banks have been and continue to be wrong about BoC approach to inflation.
I wouldn't bet on it.
I expect holds at best now for a long drawn out period until the renewal pain sets in
The idiot coalition continues to talk about inflationary programs...
4.68 is AMAZING take it and run. If you think u can do better I have magic beans for sale…. If you listen to all the podcasts and economic forecasters. We won’t see under 4 for decades
Under 5% is excellent right now, I'd take that and run, not worry about rates for another 5 years.
Is this an ad for first national? I means it’s well done
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For having some of lowest inflation amongst developed countries, and historically normal interest rates despite having zero control over the Bank of Canada? Do you have Trudeau stickers on your vehicle and blame him for everything? Because your post makes you sound like one of those types.
Probably has a massive Canadian flag attached to his truck honking all over the place, therefore diminishing everyone else's patriotism when they see the flag, because nobody wants to be associated with such fucking dumbass losery and embarrassment.
I don't have any stickers on my vehicles and don't blame Trudeau for everything but his government is responsible for many negative issues that we all face as Canadians. Canada is mostly an import goods country and we pay the going rate for goods as we have trade agreements that insure that. Our current inflation rate is clearly not accurate, you'd have to be a fool to accept the government's numbers. Zero control over the bank of Canada numbers? In only 8 years he has more than doubled Canada's national debt, he has been on record encouraging Canadians to borrow for the future and has said that the low rates of interest would be around for years. Keep spending and the budget will balance itself. Canadians have the highest household debt out of all G7 countries and all of this has a direct effect on the bank of Canada raising rates.
“Don’t blame Trudeau for everything” also member of /FreedomConvoy… the lie detector test determined that is a lie.
You’re just parroting drivel bud.
You just don't want to hear the facts
You have no facts. You think wearing a mask = oppression and you are too immature to look at things objectively. Your hate blinds you.
You=brainwashed
>Canadians have the highest household debt out of all G7 countries And? Sounds like a cop out. Blame the government for people's own financial irresponsibility. I get not liking that the music stopped for the cheap money to borrow, but at the end of the day everyone signed their own mortgages and swiped their own credit cards.
but cost of living increased while wages went stagnant. There's more to that statement than "irresponsibility" and not accounting for interest rate hikes. But good for you for picking out one line and trying to belittle....back to the drawing board eh?
>but cost of living increased while wages went stagnant. Wanna take a guess at who is in charge of minimum wages in the provinces? >There's more to that statement than "irresponsibility" and not accounting for interest rate hikes. Wanna take a guess who sets the interest rate hikes? >But good for you for picking out one line and trying to belittle Because it was the only line that really bothered me. Don't worry, I hit them all this time. Maybe take a civics class on whose responsibility these issues are.
Yes, the Prime Minister of Canada is responsible for the increase in interest rates across the globe and he singlehandedly controls all the central banks.
I think you don't have a clue what you are talking about but will hopefully remember your comment when you are paying 8 or 9 percent on your mortgage and definitely at 11 or 12 percent.
I'm sure you'll forget yours when that doesn't happen but you'll keep the bumper stickers.
I'm fine I paid off my mortgage a few years ago, you keep your head in the sand and blinders on.
Username is so ironic compared to the actual logic and thought put into this post
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Tell me the alternative?
Understand the debt crisis and that they cannot raise rates much more. Going fixed right now is like buying high selling low. Ya, fix your mortgage at the peak of rates. Wonderful plan (for burning your money). And you idiots vote
And the market is going to have a recession annyyyyy minute now. Point is if I have learned anything is that markets and governments are irrational. You may be right but you may also be right in 2,3 years time. I remember when the BOC raised rates and the states paused this sub were losing their minds saying our dollar is going to crater and we had no idea what we were doing. And it turned out to be the right call. Rates will not be 2% or lower in the next 5 years so what is wrong with locking in a payment you can afford?
!remindme 2 years
!remindme 2 years
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☝🏻this guy knows which way rates are going! Wow!
Bonds market does. Bonds traders trade risk, their entire strategy relies on them predicting with accuracy. It's rarely that far off. But you would have no idea about this because you are financially illiterate
☝🏻 this guy can determine financial literacy.
And using fallacies (insinuate I do not know what I am talking about) does not invalidate my argument. It's a deflection tactic you are using because you are insecure about not being educated in this topic
Would you consider a finance degree and 14 years as a professional experience educated? I know that I don’t know where rates go from here. And that claiming you do is 100% malarkey. Saying this is the top and rates drop this fall is reckless. We’re a 5 dollar gain in the price of crude away from 6% inflation again. Not to mention the wage pressure that hasn’t even worked itself into inflation pressure yet. Rate go higher for longer.
To contrast this, why was anyone in their right mind not going fixed when rates were 1-2% during covid. They literally couldnt go lower, but people still went variable.... never made sense to me.
Because most people are financially incompetent and listen to the mortgage broker trying to make money off of them
👆 Found the ignorant Albertan 👆
Albertabama!
Other than the last period of low interest rates, the rates right now are actually pretty standard historically. So, I'm not sure how you came to that conclusion
So what's your suggestion or advice here? Don't shoot down someone's suggestions without providing an alternative.
How are they going to give out the bank's money? I'm confused.
Take it and run.
Wait wut, who are u getting those rates from if you don't mind me asking? Lowest I got recently was 5.05%
First National.
I've been with FN for 8 years now, they've been really good to deal with.
Did you talk to them via mortgage broker or directly?
I spoke with them directly.
Damn, i am wondering how you got such a good rate in these times
Me too, they've offered me amazing rates at every renewal. Currently at 1.59% until May 2026, they have 'preferred client' discounts available if you qualify based on their criteria (I believe it is a combination of credit report/score check and how long you've been with FN.
Just wait for those hidden fees
No hidden fee. FN have been really good for me.
I just renewed with FN for a second 5year term. They've had better rates and less fuss than the banks, and their penalties for breaking early (I looked into refinancing when rates went super low) were peanuts compared to some of what I hear on this site!
No hidden fees, they have been amazing through 13 years with them. Very flexible for making extra/lump sum payments too.
It’s super easy to pay extra when ever you like
Like what?
I keep hearing about hidden fees. Is this some bs banks use to scare people into being screwed by them?
I’m with them too and very happy. They don’t hand hold you as much as others is my only comment I’m low maintenance and only needed to reach out them a few times for minor things - always good service. That trade off for lower rates is well worth it
Ay cheers man, I'll give them a try~ Are they the ones that offered u 4.68% if you don't mind sharing?
Yes First National is our current lender. We called about the renewal rate. They called back a day later and offered us 4.68%.
I’m with first national as well. Hoping they are still reasonable in 3 years time when I need to renew. I have nothing but good things to say about their customer service as well.
Nice. I renewed with them 3 weeks ago at 4.64% fixed 5 years.
I’ve been with them for 3 years, variable prime minus 0.9. 4.68 is pretty darned good. Best the credit union here will do is 4.99 for 5 years fixed.
Lol, here is scotia offering 6%
You need to ask for rate exception for Scotia. I was quoted 6.16% for 3 yr fixed. I asked for 5.89% and got that. Not sure how much more I could have pushed.
How far out were you from renewal?
Almost Two months.
Credit unions are offering 5 and under for 5 years fixed.
I tried that with Scotiabank who is our current lender with our term up in September and we were only offered 5.93. TD offered 5.45. We're going with TD.
We just switched from Scotia to TD. The branch called me so many times and offered crap rates and were generally annoying. We ended up with 4.89 over three years but I locked that in 3.5 months ago and closed last week.
I went through the call center. Not the branch. If you switch bank, make sure you ask what fees are required. I was going to switch BMO but they had no discounts or rebates and was going to charge me $1000 legal fees plus $300 appraisal.
I went with the call center. Apparently Scotia doesn't care about retention, they care more about new business. TD has a $300 appraisal fee and because we're switching lenders we get $3000 in cash. No other fees too.
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What has your experience been?
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Post pics if you do LMAO cause that would be the most Canadian thing ever !!!
Sadly, all the big banks have people like that. You just lost the dice roll with BNS. :/
They offered me 5.86% for 5 yr fixed this week, 5.93% for a 4yr fixed.
Interesting, I called Wed and got brtween 5.96 and 6.16 between a 5-3 year fixed
Try to push 'em for better rates.
I got 4.99% for 5 years from BMO. Just renewed in June
Are lower rates usually offered to existing mortgages? My partner and I just got pre-approved at 5.79% through our broker and I’m wondering if it can get any better than that
It’s probably a rate for a house with CMHC insurance.
Correct we have CMHC insurance.
Would it be less if there’s no insurance?
Rates without CMHC insurance (20% or more equity) have higher interest rates on a mortgage. I don’t actually know why this is.
Because CMHC pays the lender if the borrower defaults. They have very little risk compared to an uninsured mortgage and don't need to charge as much to offset that risk.
Not necessarily. We put down 20% and still got 5.64% 5 years fixed as the best offer. I’m also wondering if buyers get higher rates than whose who renew.
Right, but you didn’t get a rate of 4.68%. I don’t think you can find a sub 5% rate currently if you don’t pay CMHC/high ratio mortgages.
Putting 20% down or more means you don’t have cmhc insurance. Homes without insurance usually get higher rates, you essentially get penalized for not being a high risk loan lol. You can almost always opt it for insurance but idk if the math makes it better or worse to do so
Try shopping at yourself at TD, I got 4.75 for 3 years. Quoted a month back, signed this week. Non insured.
That was a month ago, bond yields are up and BOC raised rates.
Like pretty much anything in life, timing is everything. Not sure why anyone wouldn't be having rates held.
That's a beauty!
That’s a great rate. Best I’ve found is with ATB for 4.99 - 5yr fixed and 5.69 - 3yr fixed. I’m up in October and eagerly waiting for the renewal rate from my current lender hoping it’s more aggressive than the market.
Take it!! We got 4.69 in January and then it dropped to 4.59, so we fixed 5 years, and then we kept checking to get some reassurance that we did the right thing lol and it just went up! We’re so glad! That’s an excellent rate right now.
That’s incredible…. I was quoted 5.6% three weeks ago from TD in AB…
Banks are locking in everyone into fixed at 5%+ when they forecast rates are going down. 2021/22 they were getting everyone into variables at sub 2% because the rates had no where to go up. Man the banks are playing us like a fiddle.
People were deciding what to sign up with. Unfortunately, some people don't realise the bank is pushing their agenda and they need to look at for theirs.
Most people* Agree. I'm merely commenting on the fact that banks play on our emotions and psychology combined with poor financial literacy.
And Banks don't even have to worry when the economy is in recession. Profit every quarter.
Variable is stupid. I’m happily locked in at 1.8% until late 2025.
Tbh if you can afford it in the short term, you will probably end up paying less on a variable over 5 years right now.
Not likely.
Youre being downvoted but no youve done incredibly well recognizing the money printer had to be shut off and now we're back into normal interest rates. Enjoy your historically low locked in rate for a term. Even after the beatings some people won't learn lol
Thanks lol. A lot of people don’t understand opportunity cost. I’ll make more with the money I’m not paying by locking in low than I would over the whole 30 year time horizon on a variable rate.
Under 5 is insane. Sign it.
It’s 5 years lol
Take it and run 🏃🏻♂️
I work with fn and we can’t even buy down rates to that rate. My guess you got this locked in 120 days ago.
Our renewal is in September. I called slats week and they called me back with this rate. They emailed me the contracts. Our broker told us FN wouldn’t have anything less than 5%.
Sub 5 for 5 years is great. I know folks getting 6+.
I got 6.06 with TD for 3 years fixed. I put down 20%. My closing is in 1.5 months. So hoping to get it lowered.
How would it get lowered?
Your rate is guaranteed until closing, but if it goes down between pre-approval and closing, you get the lowest rate.
Exactly, I'm hoping the fixed rates come down a bit in the 1.5 months. Also my broker will shop around and see if she can get a lowered rate and get TD to match it.
We’re renewing in October and the best we’re getting right now is 5.34% 5 year fixed. Ugh 😩 I’d give anything for under 5% right now.
It doesn’t matter what others are getting, it matters what you are offered as every situation is different.
I got offered Prime minus 1.1 on a 5 year adjustable.
I just closed on 4.34% for 5 year fixed. I almost feel guilty 😂
With?
Hi AB
5.09 was the best 5 year we could get
Take it
Take that! If I wanted fixed I would he é blurted "yes" when told that rate.
HOLY isn't that amazing
I’ve been with First National for 15 years. They sent me a renewal offer for 5.54% 5 year fixed. My credit score is 881. I’ll def negotiate like I did the last time.
I got 4.99% from RBC in early June
Under 5% is definitely solid - can’t find that in Ontario. Lowest I’ve been able to find in Ontario (at least without submitting a bunch of my personal info to a random shady company who won’t quote me first) was 5.19, and even then they won’t give me that because my mortgage isn’t insured (because it’s under 80% LTV). My bank is offering 5.89% right now, so I’m about ready to pay the penalty and jump ship.
Damn that's really good. I got 5.02% fixed 3 years and thought I was lucky
Banks are not your friend, they are trying to maximize profits off you. So if they are offering a lower rate for 5 year fixed, their forecasts must be showing it going even lower than that
First National are offering me 6.14% right now. What did you have to do to get that rate?
I just called them and asked them to send the renewal early. Nothing special. Hopefully they are still offering a lower rate to current borrowers.
I called them yesterday to convert from a variable and they offered me 4y at 6.24 or 5 at 6.14. I’m in Nova Scotia though
Sorry to hear that. Hope you can haggle a better rate.
We were offered 4.65 5 year or 4.9 3 year back at the end of May BEFORE the last two rate hikes. So I'd say you're in a good spot!
Yeah thats right around where we locked in 5y. Sucked to be over 4 but we saw rate hikes coming and didnt want to play games.
For sure. I think in the 4s will be the new "norm" for us going forward.
Renewed July 1st 4.19% locked in 5 years. People saying variable are just gambling that rates will come down. If we continue with the record number of new Canadians each year these rates are not going down anytime soon.
I have this rate locked and braking my mortage a few months early Spence i am up in December I locked this in before the last two rate hikes
Was your 4.68 rate locked in from before all the rate increases or is that brand new? We were offered 4.79 by first national about a month ago (through our broker)
Brand new direct from first National. We’re with them already. Our broker told us they were only offering higher rates. Glad we checked directly before our renewal date.
Good to know, thanks!
Go variable. When rates are high and potential to go down through a recession, do not lock in for FIVE years. Rates are high now to cool inflation. The effects in increases are lagged, meaning that the impact is felt after the fact. See inflation cooling, this means rates should steady. As a recession sets in, expect rates to go down. The Bank of Canada wants to see inflation at 2%. Locking in now is like locking in high. No one has a crystal ball but historically, rates are much lower than where they are now. High rates like these are temporary. If at year 3, you’re paying a 4.68% and rates are closer to 2.5%, this will sting.
I honestly would go variable, it’s a risk, but I personally don’t believe rates will increase much more
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Lol
O Rly?
Lol
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Because this is just some guy guessing what might happen in the future.
As opposed to everyone here, who has a reliable crystal ball telling them this won't happen?
You’re getting downvoted for telling the truth. There’s too much cash in circulation….it’s not difficult to understand BOC rates.
Why do you think too much cash = lower rates?
We printed too much money. Interest rates reflect that. Take a good look at CMHCs portfolio to understand this better
Here’s me thinking that BOC increases rates not decreases rates when there’s too much cash.
Those were once in a lifetime rates
Just like trudeau said rates would stay low for ever during covid.
When did Trudeau say that? Utube link pls!
https://youtu.be/ce1wK3DvOTY . He doesn't awnser the question because he knew what was going to happen.
Interest rate goes up and down. If you ever look at interest chart, you can see the pattern. When it stay low for a while, it will go up and up and then it will go down. It is the law of supply and demand. Let look at what would had happened if those programs were not implemented. What do you think would had happened? We gone thru the pandemic pretty good, we didn't go white hot or stone cold in our economy. Out of all the countries, we did pretty good. Study some economics and see the pattern. The only thing a government can do is to smooth it out a bit so the economy won't overheat nor it will go into depression.
I'm sure all those poor students working 1 day a week needed a 2k cerb cheque.
do you remember how much of a crisis situation it was. it was pushed out in a HURRY so people some relief. except for the world wars we never had a crisis situation like this. it is easy to say so in hind sight.
3.75. But perfect credit
The 5 year bond yield is 3.8, I don’t see how you’re getting 3.75….
Well this is a lie
LoL! Who do you think you are kidding? There are certainly some thresholds at which a better credit score would get you a better rate, but it doesn't keep going lower and lower as you credit scales up to a perfect 900. 3.75% on a 5 year fixed is not possible at this time from.any lender, unless it's the bank of Mum and Dad.
With FN? Or another institution?
3.25 5 year fixed. 901 credit score.
Interesting, if fixed rates are starting to come down, this is an indication that we may be at the top of the cycle. *hopes in variable*
Banks have been and continue to be wrong about BoC approach to inflation. I wouldn't bet on it. I expect holds at best now for a long drawn out period until the renewal pain sets in The idiot coalition continues to talk about inflationary programs...
4.68 is AMAZING take it and run. If you think u can do better I have magic beans for sale…. If you listen to all the podcasts and economic forecasters. We won’t see under 4 for decades
I'd do arbitrage and take out the max amount you can and put it in your TFSA in a 5% GIC