BMO 2.99% 5 Year Fixed: A No Frills Mortgage
Since
BMO moved to lower the fixed 5 year mortgage rate to 2.99% there has
been a flurry of talk and excitment. It is a great rate and represents
an all time low for mortgage rates in Canada. While it is the lowest
rate does it represent the best mortgage? Maybe not when factoring in
all of the restrictions attached to the rate. Christopher Molder,
Toronto mortgage broker, takes a closer look at the restrictions in this
quick video (note: for non insured mortgages, mortgages that don’t exceed
80% loan to value, some lenders still offer 35 and even 40 year amortizations).
