TD 5 year fixed rate 2.45%

[avocat]

Hi,TD gives us a renew fixed mortgage rate 2.45% for 5 years. Does any other bank have lower rate than this? Thx!!!!

 

[wben]

back in June, 2.45% was probably a good rate for TD, i believe posted rate was at 2.49%. but i wouldn't go for 5 yr fixed if i were you. I would definitely go for the 1yr fixed, since we were offering 2.09% around that time.

 

[Horse Dragoon]

Guy, Suggest you either take TD variable 5 years rate 2.2% ( P-0.65 = 2.85-0.65) or take 2 years fixed rate 2.25%. is better than 5 years fixed rate 2.45%,

Please never take 5 years fixed rate , because you will pay more interest in the first 1-3 years that your money is totally waste.

you can use mortgage calculator to know how much interest you can save in the 1st year, if you have $500K mortgage that take rates between 2.2% and 2.45%.

I tell you the result is $1236.

 

[wben]

but dragoon, TD's variable rate is at 2.35% now.. so it's probably '2a good idea to renew at 2yr fixed .. at least for now =)

 

[manadona]

2 yrs fixed 2.09