Negotiating with the banks

May 9th, 2010 | Category: Banks, Mortgages | 3 comments
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If you read my previous post ‘What’s your relationship with your bank?’, you’ll know that my lending relationship with the bank is not where I want it to be. I am not sitting idle either. I do my research. I regularly monitor these 2 websites for trends: (Bank of Montreal just reduced their 5-year rate)

These 2 websites are always up to date and you can easily compare the mortgage rates. I am currently on a variable rates but I am not on a rush to change. My immediate savings are too important to relinquish. You can read my ‘Mortgage Term Decision; 1, 3, 5, or 7 years?‘ to see why I am not in a rush to switch.

I expect the prime rate to go up in June and it will probably do so a few times over the next year. My HELOC used to be at prime but since the economic down turn last year,

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