Tuesday, January 06, 2009


So, I was all set to go with Bank T for my mortgage because I'd locked in a variable rate of less then prime back in August, before the financial meltdown, which was great because if I was shopping for a variable mortgage today, it'd be prime plus. Anyway, I'd also locked in a fixed rate with Bank R as a hedge in case my closing date extended beyond the 6 month period my variable rate was good for....but my condo's closing in time so it's moot.

Why all this exciting talk about mortgage rates you ask? Well, I got a call from Bank R today to follow-up on my closing - the developer must have notified them. I informed them that I'd decided to go with another bank because they offered me a variable rate of prime less and Bank R countered with an offer that was better by 5bps. Granted, .05% doesn't sound like a big difference...but when I do the math, it adds up to almost a couple thousand dollars in savings! So, now I'm scrambling to gather up all the necessary documents to send to them.

At the same time, I feel guilty because the mortgage manager I dealt with at Bank T has been very nice and was referred to me by a friend. She's on vacation though and won't be back in time to counter the offer before my condo closes...besides which, I do most of my banking with Bank R anyway, so it'd just be easier all around if I kept all my banking in one place. Oh, and I went in this past Saturday to sign mortgage papers with Bank T so I'll have to call and cancel those proceedings...I called today to speak with the person who's covering for my mortgage manager and he's out of the office until Thursday!


My head hurts thinking about it. I know I shouldn't stress about this because it should be fairly simple, but I do because this is the biggest grown-up thing I've ever done on my own. I just have to calm down. Deep breaths...Breathe in. Breathe out.

Oh, and my current project at work is at a critical point this week with meetings in front of the bigwigs to get approval...so that's not helping either. Funny, JM, the VP who's leading my current project has been singing this familiar refrain: It gets worse before it gets better.

The bright spot is that I've made a date for this Saturday to paint. NL, who's back from 6 weeks in China with his family, is coming over to help me paint my bedroom. Maybe we can get the bathroom done too! And then I can organize and prettify my place for photos to share with you!

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