BMO Drops Its Five-Year Fixed Mortgage Rate

Bank of Montreal has lowered its five-year fixed mortgage rate to 2.99 per cent, from 3.29 per cent! Although BMO’s rate is not the lowest in the market, but it is the lowest that’s currently available from the country’s biggest banks.

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This move could cause more downward pressure on rates at a time when they’re already defying expectations. BMO sparked a mortgage price war among the banks when it first introduced its 2.99 per cent five-year-fixed rate in early 2012. Click here to read more.