mortgage rates

[Bogger]

I'd be more concerned with the privileges and fine print in the longer term contract. big penalties and buyouts can far exceed the anticipated savings if situations change, And $hit happens fast in personal and family situations, good and bad.

I plan to win the lottery, so the penalty will be irrelevant......

 

[Mike270412]

So far my return on investment in WCLC is less than stellar.

I plan to win the lottery, so the penalty will be irrelevant......

 

[cancritter]

lookin at buyin somewhere this summer...good info..keep it comeing...

 

[j335]

Anyone that think the US is in recovery needs a wake up call or to stop watching the news. The US economy is in shambles and making its way towards recession or possibly worse. The interest rate increase was a show, they need to pretend to show their in a recovery in order to increase consumer confidence. Do a little research, also a recession comes every 7 years so they're due. I made the decision in July to reposition my portfolio in preparation for this crash, there are so many signs of what's to come. I fear it's gonna be bad, perfect storm is brewing globally...

Back on topic, there were very good rates on the 4 yr fixed. Use a broker, the bank isn't your friend. I ended up going variable 2.05% as I don't expect any increase in interest rates for a few years at earliest. My 2 cents

 

[Stockorwalk]

Anyone that think the US is in recovery needs a wake up call or to stop watching the news. The US economy is in shambles and making its way towards recession or possibly worse. The interest rate increase was a show, they need to pretend to show their in a recovery in order to increase consumer confidence. Do a little research, also a recession comes every 7 years so they're due. I made the decision in July to reposition my portfolio in preparation for this crash, there are so many signs of what's to come. I fear it's gonna be bad, perfect storm is brewing globally...

Back on topic, there were very good rates on the 4 yr fixed. Use a broker, the bank isn't your friend. I ended up going variable 2.05% as I don't expect any increase in interest rates for a few years at earliest. My 2 cents

Would you mind enlightening us a little on the us situation? I'm under the impression they go down we go down. I haven't watched the news or anything in quite some time and am so far behind I think I'm first lol

 

[mathrulz]

I'd be more concerned with the privileges and fine print in the longer term contract. big penalties and buyouts can far exceed the anticipated savings if situations change, And $hit happens fast in personal and family situations, good and bad.

True - definitely don't want to overextend yourself either way. I just wouldn't want to be locked into a 5 year contract, let's say, with a variable interest rate that the lender could jack up to whatever they want at any time essentially. Similar penalties apply to break these variable contracts as do with the fixed ones. Mortgage rates have gone up twice in the past 6-8 months despite the crappy economy and boc prime rate cut last summer (this had no effect on borrowing rates for the everyday folk).


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[doorfx]

So far my return on investment in WCLC is less than stellar.

I won $25,000 on a one dollar scratch ticket and $1876 with five numbers on 649. One more number and it would have been very nice. Haven't won my retirement yet lol

 

[Mike270412]

I wish I had kept track of how much I invested. Probably almost enough to retire.

I won $25,000 on a one dollar scratch ticket and $1876 with five numbers on 649. One more number and it would have been very nice. Haven't won my retirement yet lol

 

[Bogger]

Maybe Todd is pulling the wool over our eyes and rather than buying tickets each week he has RSP's set up for each of us.....

I wish I had kept track of how much I invested. Probably almost enough to retire.

 

[Bnorth]

Anyone that think the US is in recovery needs a wake up call or to stop watching the news. The US economy is in shambles and making its way towards recession or possibly worse. The interest rate increase was a show, they need to pretend to show their in a recovery in order to increase consumer confidence. Do a little research, also a recession comes every 7 years so they're due. I made the decision in July to reposition my portfolio in preparation for this crash, there are so many signs of what's to come. I fear it's gonna be bad, perfect storm is brewing globally...

Back on topic, there were very good rates on the 4 yr fixed. Use a broker, the bank isn't your friend. I ended up going variable 2.05% as I don't expect any increase in interest rates for a few years at earliest. My 2 cents

It is still in better shape than our economy. I really hope you didn't reposition your portfolio from US to Cdn!

 

[j335]

It is still in better shape than our economy. I really hope you didn't reposition your portfolio from US to Cdn!

At the last recession in 2008 the states started printing money (creating massive dept), handing it out and dropped interest rates to 0%. Well people started spending, taking on dept, didn't save anything up (since money in bank is worthless), US companies began buying back stock (inflating stock market) and many new US oil companies started up fracking in the states due to real good loans. On the bottom left is the 2008 crash and where we're at now:



You can see today mimics what happened pre-2008 crash, classic indication of a bubble starting to pop. Perfect storm is brewing as most global markets are popping, several US oil companies will also default and will help lead to a bigger recession than 2008, some saying we may hit a prolonged recession (depression). My gut tells me they will just print a bunch more cash, crank up dept and delay everything... and Canada isn't immune to this as you already all know...

Research yourselves fellas, one good person to follow is Jesse Columbo, I find he's a good balance as most are pretty extreme.
My 2cents...

 

[800HMX]

Well said! To top is higher, the bottom is deeper and the recovery will be slower.


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[Beels]

Some of you guys snagged some great rates. I was due for early renewal with Scotia and locked in 2.74 fixed / 4yrs last month. Rates jumped a bit from November into December. My brother is a broker and said I wasn't going to find a whole lot better without having to switch lenders and go through that PITA again.

 

[doorfx]

Just signed five year locked at 2.62% on a house purchase

 

[MK4TDI]

Just signed five year locked at 2.62% on a house purchase

That's pretty damn good. Wa son a Scotia in Sask. Last week as my mortgage is up for renewal in June. New house purchase is 3.1% and for me to lock in for 5 years was 2.95%. 1 year special rate was 2.19% and 2 year was 2.4%.

Either way my rate is going up form it's current 1.85%.

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[MK4TDI]

Just signed five year locked at 2.62% on a house purchase

That's pretty damn good. Was at a Scotia in Sask. Last week as my mortgage is up for renewal in June. New house purchase is 3.1% and for me to lock in for 5 years was 2.95%. 1 year special rate was 2.19% and 2 year was 2.4%.

Either way my rate is going up form it's current 1.85%.

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[doorfx]

Looks like I should have waited lol

 

[AreWeThereYet]

I'm 2.15% for the next 4yrs