Canadian Mortgage Broker News – Canada’s major banks reduce mortgage rates again

Canada’s major banks reduce mortgage rates again

Tuesday, 17 August 2010

Five of Canada’s major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.

The posted five-year closed mortgage rate is now 5.49 per cent annually for the Royal Bank of Canada, Bank of Montreal, Scotiabank, CIBC and Laurentian Bank.

RBC was the first to announce the rate cuts on Monday. It is the second time major banks have trimmed their rates this month, and follows the report from the Canadian Real Estate Association that home sales were down 6.8 per cent in July from the previous month.

 

 

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About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

One Response to Canadian Mortgage Broker News – Canada’s major banks reduce mortgage rates again

  1. david michel says:

    people are stupid

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