Two banks offer lowest mortgage rate ever
The era of cheap money is still here.
It looks like this year could be starting with some lively competition among Canada’s banks, now offering some of the lowest mortgage rates ever.
The Bank of Montreal started this yesterday by offering an all-time low interest rate for a five-year mortgage: 2.99 percent. Today the TD Bank matched that rate – but theirs is 2.99 percent for four years.
However, there are conditions for would-be homeowners. You have only two weeks to get the Bank of Montreal rate. It’s for a 25-year amortization and you can’t increase payments as fast as some other mortgages.
The TD rate is available for six weeks.
Video: Al Sweeney reports:
[projekktor src=’https://488b0f6bbd6e1f02d285-a9990803a5649dd3960d912508d8bce9.ssl.cf2.rackcdn.com/2012-0113-LowestEN6.mp4′]
