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).