It was bound to happen. BMO announced their so-called ‘low-rate’ (NO FRILLS) 5 yr fixed rate mortgage would be increasing to 3.09% from 2.99%. This comes shortly after the Federal … Continue Reading BMO caves in to Federal govt pressure and raises mortgage rate.
Yesterday, we saw our Federal Minister of Finance, Jim Flaherty, admit to having his office phone up Manulife Financial and ask them to stop advertising their 2.89% 5 year fixed … Continue Reading Canadian Govt doesn’t want you to find the lowest mortgage rate.
So you’re shopping for a mortgage… and you see 2.99% advertised by BMO.. and you think, Wow, that’s a great rate!!… but is it really that great? And is it … Continue Reading BMO’s 2.99% No Frills mortgage is back… and so is our warning to stay away from it!