BMO lowers its five-year fixed rate mortgage below three per cent, says it has nothing to do with Flaherty’s exit

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The five-year fixed mortgage at an advertised rate below three per cent has returned to Canada for the first time since last year. Meridian Credit Union, the largest credit union in Ontario, announced this week it had lowered its benchmark five-year fixed-rate mortgage to 2.99 per cent.

Flaherty thanks banks for holding mortgage rates steady after. – Flaherty thanks banks for holding mortgage rates steady after BMO cut. with BMO this week after the bank cut its five-year, fixed-rate mortgage last weekend to 2.99 per cent, expressing how.

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UPDATE: As of Wednesday. March 18, TD has announced it will also price their five-year posted rate at 2.79 per cent, matching BMO’s discount.. Spring is traditionally the most competitive time for mortgage lenders; as warming temperatures tempt prospective buyers from hibernation and into open houses, brokers and banks alike up the ante on rate discounts.

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That 2.99 per cent Bank of Montreal five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3-per-cent mark for fixed-rate five-year mortgages is being treated as a big deal because a similar move a year ago provoked then-finance minister Jim Flaherty to admonish the bank.

It took Hoover less than a month to travel to Chicago and deliver a speech that was his. have them today, if the Five Year Plan is realized,

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