Quote:
Originally Posted by MillerTime GFG
Yes that's correct, which is why I said "most". Even without penalty, I do find blend and extends through balance sheet lenders are not great as they know they don't need to be as competitive in rate. I'd be curious what the blended rate was vs market rate when you did so. Not to say it's never a good option, but usually not so much.
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I haven't done one for a couple of years (was late 2020 to lock in super low rates) but the rate they used for the blend was the same as the First National 5 year insured rate, which is generally what I use to check if a rate is competitive.