Who's swapping into the low variable rates being offered?
Hey Guys,
Thought I'd provide a friendly heads up for everyone. The banks are getting realllly competitive with their variable rate offerings right now. If you currently have a variable, it's a super low penalty to swap your mortgage over the one of the many lenders offering P - 1%.
I've moved a few of mine over, doesn't work for every rental property depending on the lender you have to bring it to, also you need to qualify.
But this is a great time to re-evaluate or have a mortgage broker take a peak at your portfolio & see what can be mortgages can be swapped into more competitive products.