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Switch to TD mortgage or not?

Sep 18, 2010 by Hussaini | Posted in Renting & Real Estate

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

Shopper | Sep 18, 2010

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
Judy | Sep 18, 2010

Why would I not get accepted if I transfer my mortgage to another bank if I already have a mortgage?

Apr 14, 2010 by Shree P | Posted in Personal Finance

I just got a house first time owner and nova scotia screwed me for a rates. They will only give me 3.7 for 3 years or 4.28 for 5. So i decided to go somewhere else to get a fixed at 3.69 for five years. We applied yesterday and we wont know till today.

It's a matter of due diligence by each lender. When you apply with a new lender you have to go through the whole process of being accepted from the beginning because the other bank cannot just e-mail over what they know about you. Your previous lender

| Apr 14, 2010

the bank still has to run a check on you to weigh the risks and if you meet their requirments then you should be fine . keep in mind that the basic requirments for a mortgage have gotten a little tougher because the mortgage crises in the first place.
Alan | Apr 14, 2010

research on 3 financial institutions and the best interest rate out of all of them?

Dec 14, 2009 by Stephanie | Posted in Credit

i need to research at least three financial insitutions (such as Royal Bank, Scotia Bank.etc)
and i need to find the best interest rate available on a five year fixed rate for a 35-year mortgage( consider that this rate will be constant for the

?? You pick any three random financial institutions, and go to their website, look for the link to 'Rates', and write down the number listed beside the 5 yr fixed rate.

It's pretty basic research, or am I missing something?

Quizzard | Dec 14, 2009

scotia mortgage rates news

Scotiabank's Ultimate Variable Rate Mortgage

18.05.12

The UVRM gives you a starting rate of prime (3.00% today) and your rate is guaranteed never to exceed the “cap” rate. The cap rate equals Scotia’s 3-year posted rate at the time of origination.

Essentially, the UVRM makes you give up 15-25 basis points of discount compared to regular variable mortgages today. In return, you get assurance that your rate won’t increase more than 99 basis points (based on today’s cap).


Source: Canadian Mortgage Trends

Royal Host Inc. Announces First Quarter Results

18.05.12

HALIFAX, NOVA SCOTIA -- (Marketwire) -- 05/11/12 -- Royal Host Inc. (TSX:RYL)(TSX:RYL.DB.B)(TSX:RYL.DB.C)(TSX:RYL.DB.D) ("Royal Host" or the "Company") today announced results for the three months (the "First Quarter") ended March 31, 2012.


Source: SYS-CON Media (press release)

Rent regulation unlikely to offer consumers relief

18.05.12

If the goal of government regulation of the marketplace is to keep prices affordable for the average person, then Nova Scotians haven’t had much luck.

For instance, retail gasoline prices are regulated but the aim isn’t to keep prices down for the benefit of consumers. The system is designed to protect low-volume gas dealers, mainly in rural areas, who would suffer if they were forced to compete with high-volume, lower-price retailers in urban areas.


Source: TheChronicleHerald.ca

scotia mortgage rates about


TREASURIES-Yields dip ahead of Fed on slowdown fears
Reuters - Apr 21, 2011 The two-year Treasuries may face the toughest auction as the notes yields, which are the most vulnerable to interest rate risk, are also trading near the bottom of their recent range, said Bank of Nova Scotia's Comiskey. Two-year note yields US2YT=RR

Mortgage Rates: Fixed-Rate Loans Being Dropped by Borrowers
HD Newsroom - Apr 05, 2011 Mortgage Rates: Fixed-Rate Loans Being Dropped by Borrowers In addition to the TD Bank, Royal Bank, CIBC, Scotia and Laurentian have also increased their rates. The increases vary between 0.15 and 0.40 point, depending on the institution. For a loan with a maturity of 5 years, one of the most popular terms with

Surprising spike in consumer prices increases chance for interest rate hike soon
The Canadian Press - Apr 19, 2011 Surprising spike in consumer prices increases chance for interest rate hike soon Regionally, Nova Scotia had the highest inflation rate of any province in Canada at 3.9 per cent, followed by Ontario at 3.6 per cent and Quebec at 3.3. Annual inflation was lowest in Alberta at two per cent.

Dalhousie spending big bucks on university brass
TheChronicleHerald.ca - Apr 16, 2011 Senior university management also has access to perks such as free parking and subsidized mortgage rates. Charles Crosby, head of media relations at Dalhousie, confirmed Friday that these mortgage subsidies cost a total of about $15000 a year.

Don't bite off more mortgage than you can chew
Financial Post - Apr 07, 2011 The delinquency rate — defined as loans more than 90 days behind — is only 0.45% of the market. That's well below the 0.70% high reached in the last recession. Derek Holt, an economist with Bank of Nova Scotia, wonders whether the industry is