BMO and now RBC... The just-raised, newly posted, 5-year 3.89% - TopicsExpress

BMO and now RBC... The just-raised, newly posted, 5-year 3.89% rate at both banks (likely soon to be all banks) is a far cry from the 2.99% that BMO posted only 2 months ago that created such a media and Central Bank controversy in Canada! Looks like the CMHC Insurance tightening is having an immediate effect on rates, as we thought. We further predict another month or two of high volume of transactions as Canadians rush into real estate with previously approved rates before the calm hits again.

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