Mortgagenomics Canada

The Mortgage Cash Back Ladder: (for a $500,000 mortgage)1.0% cash back ($5,000) = 2.89% 5 year Fixed Rate, or 1.45% Variable Rate 1.5% cash back ($7,500) = 3.04% 5 year Fixed Rate, or 1.50% Variable Rate2.0% cash back ($10,000) = 3.19% 5 year Fixed Rate, or 1.60% Variable Rate3.0% cash back ($15,000) = 3.49% 5 year Fixed Rate, or 1.85% Variable Rate5.0% cash back ($25,000) = 3.94% 5 year Fixed Rate, or 2.35% Variable RateHere are some smart and useful ways to get the most bang from your Mortgage Cash Back proceeds:pay all or a portion of your closing costs (property transfer tax, legal fees, home inspection, movers, etc)use the proceeds to suit up your new place (furniture, new appliances, etc.)begin work on any renovation or home improvement projects (new paint, kitchen, bathroom, etc.)pay off high interest debt (credit cards, lines of credit, etc)invest the cash back proceeds in investments (rrsp, tfsa, stocks, etc)...basically, you can do whatever you desire with the proceedsBut what's the c