Tag Archives: Rate Wars

4 Year Mortgages Make a Comeback

It must be Spring time, the mortgage wars are back.  It seems like a repeat of last year with Bank of Montreal (BMO) reducing the rate on their 5 year “no frills” mortgage to 2.99%.  There’s something about a rate below 3% that kicks off a flurry of responses from the competition.  Along with the usual warnings about the added costs of going with a “no frills” option, the banks … Read More

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Fixed Mortgage Rate Forecast – February 2013

The Government of Canada benchmark 5 year bond is currently yielding 1.40%.  It’s current position is in the middle of the previous 12 month range where the high hit 1.74% and low hit 1.06%.  Its future path is expected to stay within the same range over the next several months.  While bond yields represent mortgage lending costs it’s not the only factor determining 5 year fixed mortgage rates. Competitive pressures … Read More

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When Banks Compete, You Win!

Bank of Montreal set off another “rate-war” by lowering their 5 year fixed low rate mortgage to 2.99%.  There’s something about that number that has people excited.  Not 3%, but 2.99%!  It gets consumers talking about record low rates, but even more exited are the people working for the competition.  Not to be out-done, the competition has to sharpen their pencils and find ways to offer sexy rate offers…preferably something … Read More

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