BMO drops fixed 5 year mortgage rate

[Tuc]

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Whow, this is GREAT for young couples trying to break into the housing market.  Now's the time to definitely buy if you have that 10% +.

The Canadian Press
Published Sunday, Mar. 3, 2013 2:32PM EST



TORONTO - The Bank of Montreal is lowering its rate for a five year fixed mortgage amid concerns about a cooling housing market.
 
Effective immediately the rate will drop to 2.99 per cent from the current 3.09 per cent.
 
The other big banks could follow suit.
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Read more: http://www.ctvnews.ca/business/bmo-lowers-five-year-fixed-mortgage-rate-1.1179702#ixzz2MWni6o49

[Joe Fehr]

I locked in at 2.99% 3 months ago with CIBC for 5 years, they wanted me to switch from one of their subsidiaries as they were closing it and gave me a hell of a deal. Left payments the same and shaved 10 years off the term in the long run......

[Tuc]

So this has been around for awhile and BMO is just now joining the band wagon. My step son wants tobuy our place in Airdrie so I guess this is as good a time as any for him.