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  • 最优利率和cashback可以申请特批，好信用好收入offer更好。请点链接扫码加微信咨询，Scotiabank -- Nick Zhang 6478812600。
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  • 最优利率和cashback可以申请特批，好信用好收入offer更好。请点链接扫码加微信咨询，Scotiabank -- Nick Zhang 6478812600。

@Philadelphia

If the variable can be locked to a fixed term at any time it looks better.

albxu(Yukon)
The prime now is only 3.75%. The variable will be 3.35%.

People are saying the prime may rise in the later of this year.

If that happens, say it rises up to 5.75%. You still have 5.35% for your variable (my wild guess will be it's still lower than the 3 year term's then.)

If you don't feel comfortable at that time and your mortgage is capable of locking to a fixed term, you can lock it to avoid more higher variable rate thereafter.

Chat with your bank manager to make sure any cost (penalty, administrative fee, etc) if you lock your variable open mortgage to a fixed closed mortgage at any time.
(#390833@0)
Last Updated: 2002-3-5
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Replies, comments and Discussions:

  • 枫下家园 / 住房话题 /
    tor
    Toronto Area
    Mortagage 请教 -qin1818(PC); 2002-3-5 {194} (#390792@0)
    Three types of mortagage from TD:

    (1) Three years closed, rate 4.75%
    (2) Five years closed, rate 5.62%
    (3) Variable, prime rate - 0.4%.

    Which one would be the best choice?

    THANK YOU.
    • 刚刚跟CIBC的经理谈过，他说他卖出去的大多都是VARIABLE，少量3年CLOSED，几乎没有5年CLOSED。因为历史上，在任何五年时间段内，活率比五年定率少付钱的可能性是92%。欢迎讨论。 -rollor(Rollor); 2002-3-5 (#390820@0)
      • 买房了？ -x2000(围城专家); 2002-3-5 (#390871@0)
        • 过程中。 -rollor(Rollor); 2002-3-5 (#390875@0)
      • 个人认为，你已经错过了买VARIABLE的最佳时机。 最应该买VARIABLE的时候，是PRIME RATE将要开始往下走的时候，你的利率也就跟着往下走。可惜现在PRIME RATE已经几乎降到底了，唯一的可能就是往上走。 -x2000(围城专家); 2002-3-5 {50} (#390886@0)
        你是聪明人，你觉得利率要往上走的时候，该怎么做呢？
      • I tend to buy variable rate mortgage now. -alan01(alan01); 2002-3-26 (#420346@0)
        • 你得到的最低利率是多少？有没有低于 Prime-0.75 的？ -rollor(Rollor); 2002-3-26 (#420937@0)
          • 正想请教您，您现在拿到的利率是多少啊？ -olivia1998(olivia); 2002-3-26 (#420961@0)
            • Prime-0.75 -rollor(Rollor); 2002-3-27 (#420975@0)
              • It looks like TD 5 year term (variable rate). My eyes are on "President's Choice" so far which has 2.5% fixed rate for 6 months and 3.5% fixed rate for 1 year. -alan01(alan01); 2002-3-27 (#422163@0)
                • 请问您用的是哪个银行的MORTGAGE呀？ -olivia1998(olivia); 2002-3-27 (#422169@0)
                  • "President's Choice" is provided by Amicus Bank (didn't hear before, me neither), a member of the CIBC group. -alan01(alan01); 2002-3-27 (#422507@0)
      • 偶认识的几个都选了CLOSED的. 现在, 是选择3年/5年CLOSED的最后时候了. 而且, 偶认为 1. 这个经理说的不真实. 2. 即使是真实, TA说的也是几个月前的情况. 欢迎讨论批评. -fafa999(fafa); 2002-3-26 (#420353@0)
      • 再有"在任何五年时间段内，活率比五年定率少付钱的可能性是92%" 这句话偶不完全同意. -fafa999(fafa); 2002-3-26 (#420357@0)
      • 三年期锁定较好 -dwq(dwq); 2002-3-28 (#424022@0)
    • If the variable can be locked to a fixed term at any time it looks better. -albxu(Yukon); 2002-3-5 {615} (#390833@0)
      The prime now is only 3.75%. The variable will be 3.35%.

      People are saying the prime may rise in the later of this year.

      If that happens, say it rises up to 5.75%. You still have 5.35% for your variable (my wild guess will be it's still lower than the 3 year term's then.)

      If you don't feel comfortable at that time and your mortgage is capable of locking to a fixed term, you can lock it to avoid more higher variable rate thereafter.

      Chat with your bank manager to make sure any cost (penalty, administrative fee, etc) if you lock your variable open mortgage to a fixed closed mortgage at any time.
      • 但是，等活率涨到5.35%，五年定率是不是也会水涨船高，比如涨到7.5%？ -rollor(Rollor); 2002-3-5 (#390857@0)
        • 那是肯定的。 -x2000(围城专家); 2002-3-5 (#390888@0)
        • Yes. It's very possible. But you have the option not to convert. It's not mandatory. -albxu(Yukon); 2002-3-5 {71} (#390898@0)
          A capped variable (say, capped at 6%) may be a good thing in this case.
          • Capped variable may be the best choice. -qin1818(PC); 2002-3-5 {263} (#390915@0)
            Since the closing date is 6 months from now, the manager says that the cap can only be decided a month earlier than the closing date, that is to say, five months later, at that time the cap may be increased already. That is why I am considering the 3 year closed.
    • It is not a good time to buy house or condo now. Comparing with one year or two years ago, the price has gone up more than 10%. I believe it will drop down soon. -swing-boat(小船); 2002-3-27 {85} (#422237@0)
      If you will pay more than 25% down payment. I believe it is better to wait some time.

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