Category: Institutions
- Published: 27 March 2014
- Written by Editor
BMO cuts 5-year mortgage rate to 2.99%
Maybe it’s a coincidence that former Finance Minister Jim Flaherty is gone but Bank of Montreal signalled it is about to kick off another round of mortgage rate wars.
The bank, which drew the wrath of Mr. Flaherty for starting a battle which saw rates drop to record lows, is ready to hit the marketplace again with its 2.99% offer for a closed five-year fixed rate mortgage.
Finance Minister Joe Oliver again warned Thursday that he is monitoring the mortgage market closely.
