Variable or Fixed?
Mortgage: $425 000 (insured)
Bank: RBC
Current rate: fixed 5.95%
Maturity date: Nov 1, 2026
Current offers from RBC
3 years Fixed: 3.84%
5 years fixed: 4.04%
5 years variable: Prime -0.76%
Mississauga, Ontario. No penalty if we leave current 3 years fixed rate.
Are these considered decent rates? Should we lock in the rate through pre-mortgage approval and wait/see?
u/Either_Vehicle_7424 — 2 days ago