Since fixed mortgage rates have been dropping like flies lately, many Canadians are beginning to wonder if they should abandon their current mortgage and refinance at a lower rate. “How do I do this? Is it worth it? What is it going to cost me? WHERE DO I BEGIN!?” … sounds stressful doesn’t it? Let me help!
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Bank of Montreal (BMO) shocked the mortgage market by dropping its Low Rate 5 year fixed mortgage to 2.99% effective today, January 14, 2012. It is a limited time offer that is available only until January 25, 2012. This is …
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We looked at the Best of the Best for Chequing Accounts and the Best of the Best for Savings Accounts, now we’re reviewing the bank websites and their special educational content. All the big five banks include details about their various accounts, current mortgage rate info, tools like mortgage calculators and budget planning strategies, branch locators, and a search function to help you find what you’re looking for. But not all sites are created equal. Here’s what I think about each of the sites and their special features.
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This week, all of the big banks have announced decreases to fixed mortgage rates. RBC was the first one to drop rates by 10 basis points, quickly followed by Scotiabank, TD and BMO. CIBC announced today that they would follow suit as well. This puts the popular 5 year fixed rate at 5.29%
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The other major banks including CIBC, Scotiabank, BMO, Laurentian and Desjardins all followed RBC and TD’s lead last week and dropped most of their fixed mortgage rates by 0.10%. This comes as a result of the continuing decline of government …
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