Hi, Guest
03-08-2009, 04:27 PM
NOS2Go4Me,Mar 7 2009, 10:32 PM Wrote:I've got a Homeline setup through RBC- mortgage and equity-based LoC all in one. My interest rate is decent and has gone down of late. I think they can't raise it (at least not immediately) due to the type of LoC I have.
Thanks for the heads-up, I'll keep an eye on the interest rate via online banking in the coming days/weeks.
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My unsecured LC is still at 5% same as it was when I set it up 5 years ago but I actually haven't used it and so haven't bothered to demand a lower rate ... IIRC correctly it was based on prime +1.
My mortgage and equity LC are both currently just above 3% variable and I expect that to be coming down in the near term and I'm actually thinking of buying another income property - I think we're approaching the perfect storm for acquiring real property - low prices and incredibly low mortgage rates. Fortunately lenders here seem to have plenty of cash.
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2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
New track rat: 2000 ZX3, Atlantic Blue * JRSC with lots more to come
* New Zetec crate motor - NFG - thanks Topspeed *