What is a good rate for renewing a mortgage on a variable rate right now? I renewed my condo in September on a 40 month variable rate at prime minus 1.2%. My home mortgage is up in December and they are offering 5 years at prime minus 1.1%. It isn't a big difference from my condo renewal but my home mortgage is much bigger so a couple percantage pojnts can make a big difference in payment over 5 years.
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