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In the past I've read that, on average, variable rate mortgages end up being more attractive than fixed rate mortgages. This prompted me to switch my fixed mortgage to a variable one. This was before the financial crisis.

Looking back, I made the right decision at the time. My mortgage rate kept sliding and today it is at 1.5%. My secured line of credit is at 2.25%.

Now I have to make another decision. I'm going to run up my line of credit to $80K for home renovations. I'll then get a mortgage to pay it off.

Now the impossible question. Assuming that rates are at an all-time low today, should I negotiate a fixed mortgage, or another variable one? What would you do?
 

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Variable. The best rate right now is Prime - 0.25% (2.00%). If you wait a few months you'll most likely get lower than that (probably Prime - 0.50%).
 

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Can I ask who you have your prime + 0 % HELOC with? I thought TD was the last to increase their credit lines to prime +1% effective November.
 
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