| Rate | Term | |
| 5-Year Fixed | 6.05% | |
| 3-Year VRM | 5.75%, Prime minus 0.50%, fully open term |
Bank of Canada Update
As expected, the Bank of Canada did not change its overnight lending rate, which means there will not be a change in BMO’s prime lending rate. With the recent increases to fixed rate mortgages, variable rate products are now becoming very popular again. The Central Bank does not meet again until December 4th, which ensures low variable rates throughout the Fall season.
Quote of the Week
“If past history was all there was to the game, the richest people would be librarians.”
Warren Buffet
Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
ph: (905) 321-3230
Paul.Croteau@bmo.com