Negative interest rates ?

[Cyle]

Anybody have an idea where fixed mortgage rates are gonna go? They have come down but wondering if we will see 1%? Asking for my daughter.

I can't see rates going that low. I'd be shocked to see 5 year fixed below 2%. I am going to make the assumption that the banks won't be passing the last cut onto customers, and if they do it will be only a fraction of it.

 

[X-it]

The repo is what scares the crap out of me. Down a whooping 47%


https://www.bloomberg.com/quote/REPO:US

 

[pfi572]

If looking for mortgages ? Why don’t people look at brokers .
Years ago I found them way better then the banks to deal with ?
Have things changed over the years ?
Lenny ?

 

[Cyle]

If looking for mortgages ? Why don’t people look at brokers .
Years ago I found them way better then the banks to deal with ?
Have things changed over the years ?
Lenny ?

Brokers are pretty good for purchase but for a renewal I couldn't be bothered to switch lenders. Once I show them the better rate they always match it.

 

[pfi572]

Brokers are pretty good for purchase but for a renewal I couldn't be bothered to switch lenders. Once I show them the better rate they always match it.

Yeh when we renewed years ago the broker beat the bank I had dealt with for years by a lot .
Then came to find out the CIBC lent them the money .
I was pissed and pulled everything from CIBC.
Pricks

 

[Mike270412]

Best I've heard so far is 2.4/5 years but I haven't really shopped around yet.

Anybody have an idea where fixed mortgage rates are gonna go? They have come down but wondering if we will see 1%? Asking for my daughter.

 

[X-it]

Best I've heard so far is 2.4/5 years but I haven't really shopped around yet.

What is that fine print again? Oh ya you will have to pay back it forward at regular rate if you do not keep it for 5 years for any reason. Kind of like having to pay cmhc

 

[Bnorth]

Mortgage rates are near the bottom the banks are already not passing on the last CB drop. Brokers are pretty much always cheaper than banks and banks won't play ball til you shop around, fawk em. I'm 2.4/5 right now but it's up in Nov. Had originally planned on that rate doubling so pretty happy it will be the same for another 5.

 

[gibsons]

Rates from Scotia bank

5 year fixed closed- 2.92%
4 year fixed closed- 2.91%
3 year fixed closed- 2.90%
2 year fixed closed- 3.40%
1 year fixed closed- 3.41%

Anybody have an idea where fixed mortgage rates are gonna go? They have come down but wondering if we will see 1%? Asking for my daughter.

 

[j335]

I would guess 2.4% insured and maybe 2.5-2.6% non insured right now for a 5 year fixed? Find a broker then check the banks that don't work with brokers, the last mortgage I got was through the bank and the 5 before that was through brokers.

 

[snopro]

Rates from Scotia bank

5 year fixed closed- 2.92%
4 year fixed closed- 2.91%
3 year fixed closed- 2.90%
2 year fixed closed- 3.40%
1 year fixed closed- 3.41%

Got 2.54 now but its over in August. Thanks Travis!

 

[freeflorider]

Rates from Scotia bank

5 year fixed closed- 2.92%
4 year fixed closed- 2.91%
3 year fixed closed- 2.90%
2 year fixed closed- 3.40%
1 year fixed closed- 3.41%

Something not right here? Why offer a worst % for a 1-2 yr. sounds like the banks want to lock in as posted for a longer term. I’m thinking there scared crapless and want people to buy into a longer term as interest rate are going to nose dive, at least they will have some locked in at a higher rate.

 

[gibsons]

They want you to lock in for a longer period. Nothing new, it's always been that way

Something not right here? Why offer a worst % for a 1-2 yr. sounds like the banks want to lock in as posted for a longer term. I’m thinking there scared crapless and want people to buy into a longer term as interest rate are going to nose dive, at least they will have some locked in at a higher rate.

 

[j335]

They want you to lock in for a longer period. Nothing new, it's always been that way

No longer periods are typically higher rate, same as vehicle loans.

 

[kimrick]

No longer periods are typically higher rate, same as vehicle loans.

Go to the web link below.
shows all bank rates for mortages for yesterday and a brokers rates.

https://www.superbrokers.ca/tools/mortgage-rates-comparison/

 

[Cyle]

Just got renewal offer from RBC 5 year closed 3.09% WTF? So why would I renew 3 months early when my current rate is 2.69%? Makes no sense why rates just jumped back up. They have to be going back down in the next bit I suspect though.

 

[freeflorider]

Just got renewal offer from RBC 5 year closed 3.09% WTF? So why would I renew 3 months early when my current rate is 2.69%? Makes no sense why rates just jumped back up. They have to be going back down in the next bit I suspect though.

They must be hoping your dumb and will fall for this. Banks will have to start dealing as they will be hungry to secure there loans. If they loose the client there goes the long term income.

 

[j335]

Just got renewal offer from RBC 5 year closed 3.09% WTF? So why would I renew 3 months early when my current rate is 2.69%? Makes no sense why rates just jumped back up. They have to be going back down in the next bit I suspect though.

Banks are adding a big risk premium right now as they’re expecting an influx of defaults.

In a few months you should see low 2%.

 

[S.W.A.T.]

US federal reserve just went to 0%

 

[pfi572]

https://edmontonsun.com/business/mo...Social&utm_source=Facebook#Echobox=1586065403

5 banks cut CC rates for a period of time .