Await the first chartered bank to lower 5 year mortgage rate by 20 bps. 8/14/13 Government benchmark 5 year bond yield was 1.89%, banks and major trusts charged 3.39% for 5 year fixed rate to qualified clients. 9/25/13 bond yield was 1.89%, the same "A" lenders charge 3.69%. It is time for Canadian banks to lower mortgage rate by at least 0.2% to reduce the financial burden of homeowners rather than making extra profit margin! Did you know that the 6 chartered banks made over C$8 billion net profit in Q. 3 of 2013 already?
Posted on: Thu, 26 Sep 2013 23:40:59 +0000