There has been a lot of mortgage news recently as the Big Banks fight for market share with record-low mortgage rates.
Tagged: Bank of Montreal
The clock is about to strike midnight for mortgages rates that have been the best deal of the past half century
Last month, the Bank of Montreal, in an attempt to gain market share during the slower winter housing months, surprised the mortgage industry by introducing a posted 2.99% 5-year fixed rate mortgage to the marketplace.
Thereâ€™s a brilliant reason to get into our expensive and quite possibly weakening housing market right now.
Some Canadian banks are hiking their variable mortgage rates, seeking to pump up its profit margins as it becomes evident that interest rates will remain low for some time to come.
Canadians have become more inclined in recent years to put money in investments that guarantee a return, even if it is small, as opposed to risky investments with higher upside potential, a new survey shows.
Economists were polishing their crystal balls this week and trying to peer into the future to see what next year’s real estate market will be like, with predictions varying widely.
The average price of a home sold in Canada in September was in line with that of a year earlier, even as 19.8 per cent fewer sales were registered.
To understand the housing market and where it’s headed, it’s a good idea to take a close look at the big banks.
As providers of more than 60% of home loans in Canada they are major players, determining everything from who gets to be a buyer to what people can afford to pay.
The Bank of Montreal cut its special five-year fixed rate mortgage by 20 basis points Wednesday, bringing it down to 3.59% from 3.79%.
BMO said in a statement that the move was an effort to provide potential home buyers an incentive as the fall season rolls around.