BMO cuts one 5-year mortgage rate amid falling outlook for home sales

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This article is called BMO cuts one 5-year mortgage rate amid falling outlook for home sales. It was posted by Madhavi Acharya-Tom Yew and appeared on The Star website. It was published on March 17, 2015. This article discusses about how BMO reduce their five-year mortgage rate from 2.99 per cent to 2.79 per cent due to fear of slow down in real estate and rising household debt. Many other Canadian banks have matched BMO’s reduce mortgage rate also. Five year mortgage rates are one of the most common ways customers can finance the buying of a new home. During spring time, banks are in competition because buyers and sellers tend to be more active.
 
Reference:
 
Yew, M.-A.-T. (2015). BMO cuts one 5-year mortgage rate amid falling outlook for home sales. Retrieved from The Star: http://www.thestar.com/business/real_estate/2015/03/17/bank-of-montreal-cuts-one-5-year-mortgage-rate-effective-now.html
 

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