BMO's best 5 year fixed rate is 5.38% and this is considered their special offer. Any mortgage broker can easily get their clients a fixed 5 year rate at 5.09% with similar features that the BMO mortgage offers. I'm glad I'm not a client of BMO's getting their "special offer" rate. BMO recently stopped using mortgage brokers to help build their mortgage portfolio and I think it's clear now that the reason is to charge a higher rate to their clients. It's unfortunate but further demonstrates the value of a good mortgage broker.
Sunday, April 1, 2007
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