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11-12-2008, 06:40 AM #1
I am more than little angry with our bank.
One of our mortgages has a variable interest rate (I don't know what we were thinking).
Anyhow, we found it so strange that our interest rate kept going up on this mortgage in the last few months even though the news was full of the lowering of the interests rates.
Well yesterday on our news - there it was.
It seems that the banks are not lowering the interest rates on these mortgages so that they can 'earn' extra money.
There had been many complaints coming into the various owners' associations
here.
I hope that they will be forced to lower the rates.
But one thing is sure we WILL be paying as much into this one as possible even though it will take a (long) while to get rid of it.
BAH!!!!!*Avril*

Mom to Laurens (30), Timothy (26), Dimmen (24), Lloyd (23) and Fiori (21).
May - no spend days 8/15
May - hanging laundry loads 3
May - no eat out 13/15
May - baking 1/1
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11-12-2008, 08:14 AM #2
If you have any opportunity to refi to a fixed rate, this is a great time to do it.
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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11-12-2008, 08:18 AM #3
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11-12-2008, 08:36 AM #4Registered User
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yep -- refinance to a fixed rate , WITH A DIFFERENT BANK!
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11-12-2008, 08:36 AM #5
Good idea!
I more than agree with you however when we took out this mortgage, this was the only kind that we could get - don't remember why.
I'll have a chat with DH this evening - maybe he can shed some light.Last edited by Dutchie; 11-12-2008 at 08:37 AM.
*Avril*

Mom to Laurens (30), Timothy (26), Dimmen (24), Lloyd (23) and Fiori (21).
May - no spend days 8/15
May - hanging laundry loads 3
May - no eat out 13/15
May - baking 1/1
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11-12-2008, 08:50 AM #6
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