'If ever there was a time to buy, it is now,' BMO says

Thursday, Sept. 2, 2010 - Bank of Montreal has chopped its benchmark five-year mortgage rate, aggressively throwing its weight behind what many are calling an increasingly wobbly housing market.

"It's a great time to buy a home," Martin Nel, a senior BMO official, said in news release announcing the change. He added that people who take advantage of the offer will benefit.

"If ever there was a time to buy, it is now," Mr. Nel said.

The move, which takes effect today, brings the bank's key five-year rate to 3.59%, down from 3.79%, making it one of the lowest five-year rates ever offered by a Canadian bank, says industry newsletter CanadianMortgage Trends.

Click here to read the full story in The Financial Post

Marlene Ofter

Marlene Ofter

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CENTURY 21 Max-Immo
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