Spring market kicks off early with first shot in mortgage rate wars

Financial Post

Maybe it’s the warm weather, but Ontario’s largest credit union is trying to kick off a new mortgage rate battle with Canadian banks.

Meridian said it will start today with a 1.69 per cent mortgage available on a one-year term to anyone in Ontario — a rate it claims is the lowest fixed rate product on the market.

The credit union also followed with an attack against its banking competitors for raising long-term rates last year in what was described as a falling interest rate market for bonds which mortgages are priced off.

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Michael James

Michael James

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CENTURY 21 Explorer Realty Inc., Brokerage*
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