Mortgage renewal time!

[92redragtop]

Ended up staying with TD fixed 5yr 3.34%

Unfortunately I was to busy to really search around to see what I could get.

You're probably not that far off at this point in time - the person from TD was indicating that she heard internally there might be a rate increase announced by TD by month end (that it would be good to at least get a pre-approval at the rate she gave me even if I don't follow through. I'm not sure how they are commissioned if on pre-approvals or signed/closed applications as to whether her motivations are above board).

[01CobraVert]

I spoke with rep from TD yesterday and doesn’t think getting 2.94 will be an issue, we shall see Monday.

We have around 600k in equity in our place with around 360k owing, in a good position to get what’s “reasonable” I think.

check out the smith maneuver if you have other equities will save your tax rate on the mortgage especially if renewing

[03svt]

check out the smith maneuver if you have other equities will save your tax rate on the mortgage especially if renewing

Just reading up on it now, interesting idea.

[92redragtop]

check out the smith maneuver if you have other equities will save your tax rate on the mortgage especially if renewing

Do you lose the cap gain exemption on primary residence when doing this?

[Darkhorse]

check out the smith maneuver if you have other equities will save your tax rate on the mortgage especially if renewing

That doesn't work in such a low interest rate environment. If it did absolutely everyone would be doing it.