Bombardier Inc. T.BBD.A

Thanks, Nordico, for heads up on RBC margin change...

[vonSachsenanhal]

I was in need of some quick cash to pay down credit card debt and was at my current margin limit with RBC. Their rule change gave me plenty of extra cash at a pretty reasonable 8+% interest rate.

[bicente]

8% reasonable ? ... I don't thnik so ...I have commercial loans that way lower than that , and I'm not the one paying ..... i think you should shop around ...GLTA  

[vonSachsenanhal]

Not saying its great but better than some others. My current mortgage is close to 8%. I also have quite a lot of money available from credit card offers at 2.99% but already taking advantage of that. 

[bicente]

the highest risk mortgage I have is a  commercial loan of 6.85 % and it is variable , how the heck do you get close to 8%  ??? ... all others are much cheaper down to 2.94 % , and these are all rentals with no personal home mortgage ...I don't know anyone paying as high as you are ,  I would definately shop around ... GLTA  

[Tempo1]

With a bank base rate at 7,20% what is the base of the commercial variable rate you have ?  lender's ''Cost of funds'' ?  LIBOR?   

[bicente]

I don't know where to see that info but I can tell you it is a loan of less than 20 % of the value of the building in question,  at the begining of the loan ...making it a pretty safe loan even though it is on a commercial property ... I still think I am getting ripped off LOL ...I do all the work and the banks make easy money ... GLTA

[Tempo1]

OK We can't compare mortgages with credit lines . Mortgages are term loans with highly predictable outstanding. For the bank (or institution, brokers etc) its essentially a matching game. So, with term loans they can use a variety of fund including 90 day, 180 and 360 days term funding; they have flexibility to match them lowering the cost of funds. It is less easy with credit lines

[vonSachsenanhal]

My actuall one-year fixed mortgage with Desjardins is 7.34% but with insurance it's pretty close to 8%. I will pay down the entire sum within a year or two, so it's not a huge deal.

[stock4life48]

8+% on margin is pretty standard right now although I fully admit I cringe if I had to pay those rates I lend money on 2nd and higher mortgages...great rates starting at 25%