Switch to TD mortgage or not?
Friend currently has a 30 or 35 year (long term) mortgage with Scotia bank. Should he switch to a TD mortgage, since TD and I think BMO dropped their rates. I think it's a fixed mortgage, but could be variable.
Pros and cons of both fixed and
Do NOT touch variable rates.
Consider these scams.
Interest rates could easily double in a matter of 5 years.
You may find yourself with the interest part of your monthly payment doubling up on you.
This is what has
Do NOT touch variable rates.
Consider these scams.
Interest rates could easily double in a matter of 5 years.
You may find yourself with the interest part of your monthly payment doubling up on you.
This is what has
Consider these scams.
Interest rates could easily double in a matter of 5 years.
You may find yourself with the interest part of your monthly payment doubling up on you.
This is what has
Bank of Montreal raised its variable mortgage rate, following the lead of Royal Bank of Canada, which did the same earlier in the day, citing higher borrowing costs. The bank's five-year variable closed mortgage rate has been raised 15 basis points to
Bank of Montreal later joined Royal in raising its five-year variable closed mortgage to three per cent which, in the case of BMO, represented a 0.15 percentage point increase. Meanwhile, the Royal's special variable rate mortgage also increased by a