Friday, March 2, 2012

Poll: Mortgage Stats

Since I started this blog in October 2010, I have yet to conduct a poll -- this is a Big City...Beer Budget first!

Around the PF world it seems to be the season for condo/home buying (See here and here) -- I watch House Hunters, which is largely based in the US and I'm always surprised to see higher interest rates in the States.

So, without further adieu, here's Mortgage Poll 2012!

Interest rate: 2.49%

Variable or fixed: Fixed
Amortization period: 29 years 1 month
Term: 2 years
Payment Schedule: Bi-weekly
Starting balance: $173,250

Current balance: $172,883 (I'm only 2 payments into the term)

Method of arrangement:  Mortgage broker

 (Photo credit:
Now it's your turn!!  Comment below with your answers!!


  1. We have owned our house for 7 years this week!

    Interest Rate: 3.95%

    Variable or fixed: Fixed
    Amortization period: 11 years left (started with 25 years)
    Term: 5 years (2 years, 9 months remaining)
    Payment Schedule: Weekly
    Starting balance: $182,500

    Current balance: $132, 664

    Method of arrangement: Mortgage broker

  2. wow those rates are amazing! we've just refinanced:
    interest rate: 6.33%
    Term: 30 years
    Payment: monthly ( but we pay fortnightly)

  3. Thanks for linking me!
    Our rates are not as low as we wanted..if we bought a house we would have a lower rate. Oh well!

    30 years - just purchased LOL
    interest: 4.5%

  4. The reason that the interest rates are so much higher in the States is because we have longer fixed rates than Canadians. We typically have a 15, 20 or 30 year fixed rate. We do have ARM's (adjustable rate mortgages) but I don't know why one would do that when the current 30 year fixed rate is 3.75%. Interest rates are bound to go up when the economy improves.
    Interest rate: 4.25%
    Variable or fixed: Fixed for 30 years
    Amortization period: 30 years, currently 14 months in
    Term: 30 years
    Payment Schedule: monthly
    Starting balance: $89,200
    Current balance: $33,700

  5. Interest Rate: 3.68%
    Variable/Fixed: Fixed.
    Amortization: 25 years.
    Term: 5 year.
    Payment schedule: bi-weekly.
    Starting balance: $216,000.