The Big 6 banks have lifted their prime rate to 3.00%, from 2.75%, effective tomorrow. The move follows the 1/4 point hike by the Bank of Canada earlier today. The...
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Big banks have been busy trying to create mortgage niches. BMO has it’s “low frills” 5-year fixed, CIBC has its switch program, and now RBC is positioning its RateCapper as...
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01Sep
BMO Drops 5-Year Low Frills Rate To 3.59%
Filed Under: Mortgage Rate Trends by: Robert McLister
BMO continues to aggressively execute its new discount mortgage strategy. It just sliced its 5-year fixed "low frills” rate from 3.79% to 3.59%. It’s the lowest publicly-advertised 5-year fixed rate...
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01Sep
BMO Drops 5-Year Low Frills Rate To 3.59%
Filed Under: Mortgage Rate Trends by: Robert McLister
BMO continues to aggressively execute its new discount mortgage strategy. It just sliced its 5-year fixed "low frills” rate from 3.79% to 3.59%. It’s the lowest publicly-advertised 5-year fixed rate...
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23Aug
Bond Dealers Predict 1/4% Rate Jump On Sept. 8
Filed Under: Mortgage Rate Trends by: Robert McLister
Despite all the economic gloom lately, each of the 11 primary dealers polled by Reuters still predict a 1/4 point rate hike at the Bank of Canada's next interest rate...
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RBC has started off the week on a good note by dropping 2- to 10-year fixed rates by 0.10 percentage points. Its posted 5-year fixed rate will now be 5.49%,...
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The air of concern about a North American economic slowdown has grown thick enough to slice. Nowhere is that more evident than in the U.S. treasury market, where 2-year yields...
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A handful of lenders have extended the rate holds on their “quick close” specials. Quick close rates are typically offered to people closing within 30 days (of application submission). That’s...
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RBC stealthily lowered its fixed rates last week, and now it’s cutting them again. RBC’s 5-year fixed mortgages are falling to 5.59% (its posted rate) and 4.19% (its “special offer”...
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Royal Bank, the nation’s biggest mortgage lender, has trimmed several of its rates. The new rates showed up on its website today with little fanfare (i.e. no press release). The...
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