Mortgage Rate

[Romeo]

I want to renew my mortgage with Royal Bank.
What rate do I deserve?

 

[papasmerf]

anything less then 6.7% is decent here

 

[HowardHughes]

Romeo,

Skip the Royal!!!

 

[Questor]

I got my morgage through Citizen's Bank. It is an internet and phone bank based in Vancouver. The rate I got was quite a bit lower than anything available through the chartered banks. The service by toll free phone is first rate. So good that I now have a chequing account and hold my term deposits with them. PM for details.

 

[HornyTime]

If you have a low balance relative to value of the property I've heard that the insurance companies offer low rates. Otherwise I'd check with Citizen's (per Questor), and similarly ING and PC Financial.

Personally I can't stand RBC, they try to charge you a fee for breathing.

 

[james t kirk]

Mine is with the Royal

2 year open variable at Prime less 0.5.

The bank of Canada lowered its over night rate on July 15 and the banks responded by lowering the prime rate to 4.75.

Therefore i am paying 4.25 percent. I have been using the variable mortgage for 2 years now and have saved a bundle in interest.

The bank of Canada next meets in September. Odds are that they will lower by another quarter point.

I hope.

 

[Romeo]

I think I will go with the 4 year fixed of 4.74.
The lady tried to trick me into signing the renewal but I think its quite good anyway.

Nikki from SRM told me about RBC briefly. Maybe I ought to show up at SRM with $200 so we can share some private time together.
Nikki is a big believer in customer service.