Fixed Mortgage Rates Drop

Canadian financial institutions have begun to slash their mortgage rates.

BMO Bank of Montreal was the first to announce lower rates. Their 5 year closed mortgage will carry a posted rate of 6.65 per cent, a drop of a little more than a third of a percentage point.

Bigger cuts apply to shorter-term mortgages. BMO's one-year closed mortgage drops to 6.15 per cent. Its two- and three-year closed mortgages tumbled by 0.85 of a percentage point to 6.15 per cent.

These are all posted rates. Many consumers are actually able to get closed mortgages at rates that are a full percentage point or more below the posted rates. BMO, for instance, said its "special offer" rate for a five-year mortgage will drop to 5.59 per cent, down 0.34 of a percentage point.

If your credit is pretty good then you could qualify for my “quick close” special VERICO mortgage rate.

These 5 year fixed mortgage rates are my current deep discounted rates on deals closing before July 4. 2008 based on your loan size.

$1,000,000 + = 4.85%
$500K - 999K = 4.94%
$100K - 499K = 5.24%

These deep discount rates are yet another reason to apply for your mortgage at my website. Click here to get started.

Thank you


Joe Malek, AMP
Accredited Mortgage Professional