- Existing variable rates are crazy-low (as good as 1.68%), but lenders are less generous with discounts on renewal. Variable rate renewals are coming in at just over 2%, which is still very good.
- The spread between a variable rate and a 5-year fixed-rate is negligible; it’s now possible to lock in for 5 years at 2.09-2.24%. This usually translates into lower monthly payments and/or more rapid repayment of principal.
- (BTW: on a principal residence, you may do a touch better on rate)
Each year, your municipality issues property tax assessment notices. The property 'value' is then multiplied by a Mill Rate (set by the City) in order to calculate the amount of tax owing. It's important to note that an assessment for tax purposes is not necessarily...