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Special rate puts brokers on the horns of a dilemma

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Mortgage Broker News | 13 Apr 2012, 10:00 AM Agree 0
Some brokers critical of BMO’s low-rate no-frills mortgage may be forced to rethink that position, with one channel lender offering a similar trade-off, albeit with a longer amortization.
  • Stephane Bruyere | 14 Apr 2012, 03:09 AM Agree 0
    In Quebec, still have 3.19% for a five-year fixed 45-day rate holds. Beacon over 710. 15/100 prepay. Ratio of 27%/37%.
  • Jim T.....Advent Mortgage | 14 Apr 2012, 04:08 AM Agree 0
    We also have 5 yr at 3.19% paying 115 bps from a major lender.
  • Ann T | 14 Apr 2012, 04:23 AM Agree 0
    Xceed should look to their competition to see that this is not the best deal on the market. I can still do 3.09% with full prepayment options, 4 year fixed, 45 days, and 3.19% on the 5 year with full prepayment options, 90 day hold as Stephane & Jim have noted.
  • @kiltedbroker | 14 Apr 2012, 06:05 AM Agree 0
    No dilemma at all - If no one uses them, there is no competition on the rate and Xceed can exit the marketplace as fast as they re-entered it. The End.
  • Ken | 14 Apr 2012, 06:34 AM Agree 0
    This is not apples to apples boys and girls. Xceed must think they are re-inventing the wheel. As per all the above "No Need for Xceed !
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