Quote:
Originally Posted by taylor192
Of course you're here to argue, cause you won't post numbers:
What's the lowest rate, open mortgage, and with which bank?
Is that with buying down mortgages with points? or without?
The rest of us are posting numbers and have been pre-approved by a variety of lenders, yet you continue to tell us we're wrong. Stop trolling and post some hard numbers, banks and brokers to help us out, or go away.
Lowest rates last I asked were still high 3.7%, you're right, yet they are CLOSED mortgages, which many people would be stupid to take. Its like the 3.59% mortgages that were offered, awesome deal, yet only on closed mortgages.
Any broker recommending a young client a closed mortgage is a broker to avoid.
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Quote:
Originally Posted by taylor192
The closed mortgages I was looking at were not portable or assumable...???
You also neglected where I wrote "young clients". First time buyers, single buyers, condo buyers, ... like many of the people responding in this thread.  5 yrs is a long time if you happen to meet someone, find another job, finances change (after being maxed out to buy in the first place like many people), ... IMHO the extra 0.1-0.2% savings isn't worth the lack of flexibility/mobility. |
There's no point for me to argue. You're giving your suggestions, like i've said before you got your points. Some are very valid, but you obviously believe you're right and your methodology is all might and powerful. i've been in the industry for a while. I'll respect your topic and argument.
The only point from the very beginning, I wanted to make from what you said was - Your rate, your broker gives you doesn't mean it necessarily is the best rate.
Thats it from me. I'll be here to mod this topic and thats bout it.