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Mortgage Broker News | 20 Mar 2013, 11:00 AM Agree 0
Jim Flaherty needs to “stay out” of the affairs of banking, say mortgage brokers, as one channel lender throws down the gauntlet with the introduction of a 2.84 per cent rate.
  • Bill Jones | 21 Mar 2013, 09:36 AM Agree 0
    I wish there were more details in these quoted interest rates: Are they for convnetional? Insured only? Available for switches? Do they allow extend amortizations on convnetional? Available for pre-approvals? Live deals only? Do they allow float downs? Rentals or just residences? Do you need a certain beacon score? 30, 60, 90 or 120 days rate hold? etc., etc. All rates are not created equal. However I bet the Government doensn't know the difference (they, like the public, only see the advertised rate). I think advertising interest rates that have a lot of stipulations is misleading - nothing more than bait and switch.
  • Paul Therien - CENTUM | 21 Mar 2013, 10:00 AM Agree 0
    CENTUM Primo is at 2.74% and has been for a while. The product has great pre-payment options. If we have been offering this product for several weeks, I do not understand what the big deal is about 2.99, 2.94, or even 2.89...
  • KL | 21 Mar 2013, 10:07 AM Agree 0
    I agree Bill . As we all know lenders have 30,45 and 60 day Quick Close programs ! Then there are lender status provisions to go lower, then of course as Jim says conventional or high ratio. If the broadcasters of these rates are not specifically explaining all, then they are "Bait n Switchers" which we see all the time and our governing bodies should stop this crap. Then there are the buy down dudes who believe they can beat the next guy on just VB. A numbers game it is, but we are raping each other. Mr. Flaherty already messed things up with the LTV refi cutbacks, now he wants to tell all what lenders should charge !! C'mon man - back to the rock !!! Please ....
  • Gerald Carter | 22 Mar 2013, 10:12 AM Agree 0
    Jim Flaherty should focus on what the banks charge on credit cards and not influence the banks on what they charge for a mortgage rate.
  • Snowman | 19 Aug 2014, 11:23 PM Agree 0
    The real cancer to household debt is not the lower mortgage rate in Canada, it is the senseless cost of living for people on tax, insurance, utilities, property tax, etc. I would love to see a 1% mortgage rate by 2015.
  • JohnD | 11 Dec 2014, 05:10 PM Agree 0
    Of the 3 firms listed offering those low rates, the only reputable one is True North. Mortgage Emporum is an online broker only with no offices and Safebridge, never even heard of them. Safebridge who?
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