u/Kelrich

Hi all,

I just received a quote from a mortgage broker for upcoming renewal.

• non-CMHC insurable
• 25 years left but stretching it back to 30 years to lower the monthly payment
• 5 year variance at prime - 0.25 = 4.2%

I was shocked when I heard that but my broker explain banks been tighting up on their rates on prime discount for variable and some do not even entertain matching offers. Is this what others are seeing?

I did call my current lender (TD) and the rates are pretty much the same.

I have a top credit score. Both myself and my spouse are employed full time.