#9074045 - 07/07/17 10:30 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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Not due until next year, but likely go variable.
I have a pretty good rate right now and will have to see what the market looks like at that time. It helps that my wife is a mortgage broker.
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1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...
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#9074057 - 07/07/17 10:38 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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just pay the damn thing off and ball out.
Do this.
Assuming you would put that money in the market otherwise, at the current peaks/records we are reaching paying it off is probably the best use of money now imo. At least all signs point that way.
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#9074064 - 07/07/17 10:41 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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But that's my GT3 money 
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#9074074 - 07/07/17 10:44 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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that bubble will pop too, I promise.
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#9074170 - 07/07/17 11:24 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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just pay the damn thing off and ball out. Do this. Assuming you would put that money in the market otherwise, at the current peaks/records we are reaching paying it off is probably the best use of money now imo. At least all signs point that way.
So you're saying with interest at 2.19% vs. 8% portfolio gain is better to pay off mortgage?
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I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9074225 - 07/07/17 12:01 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Hatorade]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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That's assuming you can earn 8%.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...
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#9074232 - 07/07/17 12:11 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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just pay the damn thing off and ball out. Do this. Assuming you would put that money in the market otherwise, at the current peaks/records we are reaching paying it off is probably the best use of money now imo. At least all signs point that way. So you're saying with interest at 2.19% vs. 8% portfolio gain is better to pay off mortgage?
The equity market is overvalued and you could be taking a 25%+ haircut during the "next" recession, whenever that happens (probably sooner than later). So yes, as of today I'd feel much better paying off my mortgage at the low interest that it's at than to gamble with a looming recession.
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#9074339 - 07/07/17 12:59 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47664
Loc: T.O. - Canaduh
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just pay the damn thing off and ball out. Do this. Assuming you would put that money in the market otherwise, at the current peaks/records we are reaching paying it off is probably the best use of money now imo. At least all signs point that way. So you're saying with interest at 2.19% vs. 8% portfolio gain is better to pay off mortgage? The equity market is overvalued and you could be taking a 25%+ haircut during the "next" recession, whenever that happens (probably sooner than later). So yes, as of today I'd feel much better paying off my mortgage at the low interest that it's at than to gamble with a looming recession.
+1 to this (similar to what we've been doing the past 5+ yrs), just pay it down as much to the principle$ amt as you can...if you have some extra money lying around that is, which in this day and age is tricky. i usually toss some funds to my mortg before renewal time. rbc has the lump some once-per-year payment option as well, in addition to the double-up payment option, which i'm sure all banks do too. but damn it with such lil interest, it's so easy to get sucked into borrowing large amt's too!
re. recession, who the hell knows. damn central banking system /tin foil hat. but at the same time, it's up to ppl to manage their own money and risk.
for me personally, besides the usual rrsp/resp/mainstream crap/etc. i've been tossing cdn$ into bitcoin and playing markets there for the past two years and it's paid off handsomely. i think it's a good option to have in your back pocket should the current FIAT system go to shit /super tin foil hat. CDN government doesn't tax it (yet) either.
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 "Ban low performance drivers, not high performance cars"
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#9074782 - 07/07/17 07:24 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Hatorade]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106942
Loc: Barrie, Ont,
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I've been taking a shit kicking the last few weeks. Today I think I'm up about $600
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#9077502 - 07/12/17 12:29 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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Do you guys trade so much that you track monthly movement? I look at big dips as buying opportunities.
The idea of a couch potato is to leave it alone. If you can earn 4% compound per year, you've done well.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...
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#9077923 - 07/12/17 05:03 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Just got my June statement. My couch potato investments are only up 4.1% this year. Maybe it's time to cash out...
Cashed out late March, early April. Chilling on the sidelines now, wow market timer oh no.
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#9078338 - 07/13/17 08:04 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Senor Eduardo_82]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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Greedy banks, they sure were quick to follow with a 25bps prime rate hike, despite not cutting the full 25 at the last two drops.
Last two BoC target rate drops of 25 bps each, the banks only dropped prime 15bps.
Nice little padded margin there.
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#9082219 - 07/18/17 08:14 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Risky Business]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Just got my June statement. My couch potato investments are only up 4.1% this year. Maybe it's time to cash out... Cashed out late March, early April. Chilling on the sidelines now, wow market timer oh no.
Same, but you beat me by 3 months. I cashed out in May.
I feel a bit nervous though. That much money just sitting there doing nothing. I feel I'm missing out. I feel like an old grandma that's stashed her life savings under a mattress. It's just sitting there depreciating. Ugh!
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#9082265 - 07/18/17 09:17 AM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: Just A Troll]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6117
Loc: Toronto, Ontario
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#9082515 - 07/18/17 12:54 PM
Re: RBC, CIBC, TD raised their fixed term mortgage rates
[Re: iamfob]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47664
Loc: T.O. - Canaduh
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just locked in 2.19 for 2yr...but really contemplated going 3 to 5yr...but damn it don't wanna pay more lol. i've just been flipping cheap 2yr locked in rates for awhile and it seems work out good enough. figure why pay more now when no guarantee shit will go up in the future (it will but very slowly). so meh, will just pay the cheapest 2yr fixed in the future then too. If there is a trend of rate increase, the future fixed rate is going to be higher than now, no? Wile the 2 years fixed worked for you the last 5-7 years, it may not be in the 2.15% everytime you renew going forward.
i know. that's fine, as since the increases will be so minor 'every 2 yrs' going fwd (at least it has been until now). rates will prob go up a bit more than usual over say the next 10 yrs but meh, not gonna split hairs over calculating the difference.
not to mention i plan to try and pay off mine IN the next 10yrs so fuck dem bank s0n! 
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