Commercial renewal at 3.24%

[kathryn d]

When we refinanced our 11 unit apt building in 2007, it was 6.44%.

We just renewed at 3.24% for the next 5 1/2 years.
(P&I...we don't have the option for IO)
Instead of reducing our payments, we took off time.
It will now be paid off June 2027.

Very pleased.

 

[terrence]

Nice one, in 15 years what will be the annual income from those 11 units?

 

[boomtown]

Canadian mortgage rates are a joke ! I can't imagine 3.24 percent.

 

[joeExpat]

Canadian mortgage rates are a joke ! I can't imagine 3.24 percent.

Try 1.08 % fixed for 3 years
http://www.ubs.com/ch/en/swissbank/private/finanzieren/current_rates.html

 

[kathryn d]

Canadian mortgage rates are a joke ! I can't imagine 3.24 percent.

This is the lowest we have ever paid.
This year with the interest at 6.44% we made a profit of $40k

 

[boomtown]

Try 1.08 % fixed for 3 years
http://www.ubs.com/ch/en/swissbank/private/finanzieren/current_rates.html

Holy fark. I thought rates like that were reserved for weird places like Singapore.