BMO Bank of Montreal announced that effective April 7th, its five year low rate fixed closed mortgage will be increasing to 3.95% from 3.75%. This new rate remains at the lowest in the marketplace, and the gap between BMO’s rate compared to the competition has widened following the recent round of rate increases.
This is one of the best times for customers to take advantage of this special rate and lock in the rate as it is possible to change at anytime.
By getting pre-approved, you are given 90 days to search for the home of your dreams and take full advantage of this offer.
BMO’s economics department, like other economists expect that interest rates will rise, the era of historically low mortgage rates is coming to an end, however you still have time to take advantage of it.
Go talk to a BMO Mortgage Specialist about getting pre-approved. The benefits included:
- Guaranteed financing which will be very helpful when you make an offer on a house
- Knowing exactly how much you can borrow, and what your monthly payments will be
- A guaranteed rate during your 90 day pre-approved period.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
