All Questions
6
questions
3
votes
2
answers
286
views
What Incentives are stopping banks from raising their prime rate?
In Canada, banks set their prime rate which affects the lending rates for many of their products including variable-rate loans. Many sources say that the Bank of Canada's (BoC) interest rate ...
user118726
16
votes
1
answer
5k
views
What does a mortgage percentage rate really mean?
I'm wondering if I could get a detailed explanation on exactly what a mortgage rate really means. For example, if you have a $250,000 mortgage, with a 25 year amortization, at 2.95%, with a 5 year ...
- 271
2
votes
4
answers
428
views
Whether to prepay mortgage or invest in stocks
If at the end of the year, I have 10k in hand that I want to save/invest and these are my options:
1.Prepay into mortgage. Rate is 2.1%
2.Invest in stocks and I know I can get at least 7 % return.
...
- 16k
18
votes
7
answers
4k
views
What are the advantages of paying off a mortgage quickly?
What are the advantages of paying off the mortgage quickly??
Sure, not paying interest and truly owning your house is great, but then the money is tied in a fixed asset, and if you want to get at ...
- 191
9
votes
4
answers
1k
views
Can I take advantage of lower interest rates while I'm stuck in a fixed-rate mortgage?
Interest rates across Canada are gradually creeping up, but they're still incredibly low compared to when I started my 5.79% fixed rate mortgage a few years ago. Several lenders still seem to be ...
- 1,003
5
votes
1
answer
363
views
With interest rates beginning to ascend, is it better to lock in a mortgage at fixed rate or opt for variable rate?
With the interest rates beginning to ascend, is it better to lock the house mortgage at a fixed rate or to opt for a variable rate mortgage? Thanks in advance for the sage advice that is shared here.
- 513