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Mortgage competition pushes rates to 1.99%
A Canadian lender has pushed mortgage rates to their lowest level in at least two years in a bold move to gain market share and publicity.
Investors Group cut its three-year variable mortgage rate to prime minus 1.01 per cent, or 1.99 per cent, on Monday.
It appears to be the lowest rate in the market, although it is not a record. "Variable rates, in general, have been below 2 per cent before," says Kurtis Elliott, a business analyst at RateHub.ca. For instance, five-year variable mortgage rates below 2 per cent were available in the spring of 2010.
Read the full article here.
A Canadian lender has pushed mortgage rates to their lowest level in at least two years in a bold move to gain market share and publicity.
Investors Group cut its three-year variable mortgage rate to prime minus 1.01 per cent, or 1.99 per cent, on Monday.
It appears to be the lowest rate in the market, although it is not a record. "Variable rates, in general, have been below 2 per cent before," says Kurtis Elliott, a business analyst at RateHub.ca. For instance, five-year variable mortgage rates below 2 per cent were available in the spring of 2010.
Read the full article here.