u/emraydn12

I know this might sound like a no-brainer to go with fixed but historically variable mortgages always saved me money so I would appreciate some grounded advice here:

TD gave me an early renewal offer for my mortgage:
3.45 - 5 year variable
25 year amortization
No cashback, no points

RBC gave me the two offers below:
3.69 - 3 year fixed OR 3.55 - 5 year variable
25 or 30 year amortization
$1,500 cashback + 55,000 Avion points

Now I am trying to decide between the TD variable vs RBC fixed offer. There is a case to be made for the variable option because it has always saved me money in the past and I am not as pessimistic about the short term economic outlook. On the other hand, I do appreciate a lower monthly payment that comes with the RBC fixed offer at 30 year amortization and invest the savings into S&P 500 to make more money. Which one would you pick and why?

I have a mortgage with TD that matures on July 1. Back in April, I got an offer from a TD branch to renew my mortgage early and they told me I can cancel anytime before the early renewal kicks in the following month (May) without any penalties. This was in line with what my mortgage broker friend advised me. Anyway, I let this offer expire and this month I just got a better offer from TD Mortgage Line (called the customer service via TD app). They are telling me if I agree to a renewal that would start in June 1, I have only until the end of the same business day to cancel and after that there is no going back without penalties. When I told the agent what the branch told me, she disagreed and said this is their policy. I talked to another agent on TD Mortgage Line and she said the exact same thing. This does not even make sense because the renewal kicks in on June 1, so why can I not change my mind until then?

How is it even possible that mortgage renewal from the branch vs phone for the same bank has different policies? Is this even legal? I am curious of others' experience here and whether I am being misinformed by these phone agents. I have what the branch manager said in writing and the branch manager says "Maybe phone line has a different policy" which does not even make sense.