Personal Finance

BMO 3.09% 5 YEAR fixed rate mortgage

  • Last Updated:
  • Feb 20th, 2012 1:06 pm
Member
Jun 14, 2008
487 posts
455 upvotes

BMO 3.09% 5 YEAR fixed rate mortgage

BMO is offering 3.09% 5 YEAR fixed rate mortgage
TD Bank, Scotia offering the same rate of 3.09 though for 4 years.
With low mortgage rates, (though not as good as 2.99% in end of January) Its a good time to lock in the low rates if you are looking for new/refinance your mortgage.
If you got any better offers than these please post.

Woah reported: i was able to lock in at 2.99% for 4 years this last Friday (Feb 17) at TD Canada Trust....thanks for posting

Edit:
Bostonontario reported : True North Mortgages for a ten year 3.74%. ING direct is the lender. Thanks
18 replies
Deal Addict
User avatar
Mar 18, 2005
1179 posts
114 upvotes
Brampton
Before you post this as a "Hot Deal", I would suggest some research is done on what the terms of the mortgage are.

BMO's attempt at a mortgage offer has been discussed here in detail and it is a very stringent mortgage with some ridiculous terms.

Post the terms/penalties/portability/discharge requirements.....etc.etc.....then we can talk.
Jr. Member
Jan 23, 2005
136 posts
22 upvotes
Thanks for the post. Pretty sure I am a big boy who can do my own research on the restrictions etc...
Deal Addict
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Sep 19, 2005
3116 posts
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Canadia
blazerzr2 wrote: Before you post this as a "Hot Deal", I would suggest some research is done on what the terms of the mortgage are.

BMO's attempt at a mortgage offer has been discussed here in detail and it is a very stringent mortgage with some ridiculous terms.

Post the terms/penalties/portability/discharge requirements.....etc.etc.....then we can talk.
Or just encourage people to do their own research instead of ordering other rfders around. ;)
Deal Fanatic
Aug 31, 2010
7556 posts
6834 upvotes
blazerzr2 wrote: Before you post this as a "Hot Deal", I would suggest some research is done on what the terms of the mortgage are.

BMO's attempt at a mortgage offer has been discussed here in detail and it is a very stringent mortgage with some ridiculous terms.

Post the terms/penalties/portability/discharge requirements.....etc.etc.....then we can talk.

Yeah, I'm going to run into BMO and apply for this 5 year mortgage without doing my research first.

Better yet, I'm going to take some guys word, based on their research, for it in their OP and run in to BMO and apply for the mortgage without doing my own research first.

You're cool.
Deal Fanatic
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Jul 11, 2006
6685 posts
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Canada,Eh!
I was still able to lock in at 2.99% for 4 years this last Friday (Feb 17) at TD Canada Trust.
From what I was told,it's not advertised,but still offered to those who ask for it.
I'm in a somewhat "unique" situaton where I was on a Variable Rate (Prime - 70 basis points for 5 years,so 2.3% at the moment...I repeat AT THE MOMENT),but wanted to lock-in at one of the lowest recorded rates in history,this 2.99%.
Sure,if Prime stays the same or goes lower I'll probably kick myself(a bit :facepalm :) .....but there's far more room for it to go higher,than much lower.
Sleeping much better now. :D
Deal Addict
Dec 23, 2002
1514 posts
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North York
ahh yeah, time to load up a few more condo units
Deal Guru
User avatar
Mar 22, 2005
12640 posts
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Go variable unless you are a worry wart - save a ton of money. We have been variable for 5 years - best decision ever.
Deal Addict
Nov 26, 2008
1092 posts
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GTA
kool1 wrote: Go variable unless you are a worry wart - save a ton of money. We have been variable for 5 years - best decision ever.

I am going through True North Mortgages for a ten year 3.74%. ING direct is the lender.
Deal Addict
Dec 31, 2006
1420 posts
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You can still get 2.99 for 5 year anyways. Cold.
Member
Jun 14, 2008
487 posts
455 upvotes
T3NSION wrote: You can still get 2.99 for 5 year anyways. Cold.
Can you specify which bank/ lender. Thanks
Deal Addict
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Aug 30, 2011
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Winnipeg
T3NSION wrote: You can still get 2.99 for 5 year anyways. Cold.

I believe that deal expired. Although It *might* be available if the bank is willing to negotiate. But as for the "posted" rate I believe it expired.
Deal Fanatic
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Jul 11, 2006
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Canada,Eh!
kool1 wrote: Go variable unless you are a worry wart - save a ton of money. We have been variable for 5 years - best decision ever.
For the last 5 years...YES.

For the next.......?????
Sr. Member
Sep 14, 2010
596 posts
219 upvotes
Signed with BMO a 5 year fixed at 2.99%, best deal on the market I've found.

Don't care for the restrictions, really, 5 years locked at 2.99% is worth it. If I want to put more money on the mortgage, I'll put it aside and do it after the 5 years term before resigning a new term, that's it.
Deal Addict
Dec 31, 2006
1420 posts
297 upvotes
dealguru99 wrote: Can you specify which bank/ lender. Thanks

Contact your local mortgage brokers.. I know it's still available.
Deal Addict
Aug 26, 2004
3723 posts
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Toronto
Yippee time to buy the 1.5 million dollar 1 bedroom house in High Park!
Deal Fanatic
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Dec 8, 2007
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CDNPatriot wrote: Yippee time to buy the 1.5 million dollar 1 bedroom house in High Park!

I'm looking at similar properties ..... bidding war time ...
Hydropwnics wrote:"TodayHello is a certified hustler and original gangster."

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