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: http://mortgagesforless.ca)
Now it's your turn!! Comment below with your answers!!
We have owned our house for 7 years this week!
ReplyDeleteInterest 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
wow those rates are amazing! we've just refinanced:
ReplyDeleteinterest rate: 6.33%
Term: 30 years
Payment: monthly ( but we pay fortnightly)
Thanks for linking me!
ReplyDeleteOur rates are not as low as we wanted..if we bought a house we would have a lower rate. Oh well!
Fixed
30 years - just purchased LOL
monthly
interest: 4.5%
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.
ReplyDeleteInterest 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
Interest Rate: 3.68%
ReplyDeleteVariable/Fixed: Fixed.
Amortization: 25 years.
Term: 5 year.
Payment schedule: bi-weekly.
Starting balance: $216,000.