Is There Less Competition Among Canadian Banks Fixed Rate Mortgages?

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Is There Less Competition Among Canadian Banks Fixed Rate Mortgages?

Canada finds itself in a newly competitive arena, not on a hockey rink, but in the mortgage lending-sphere. For the last few months, mortgage rates have been a hot topic especially for Jim Flaherty, the Finance Minister of Canada; banks were bringing their rates low, lower than they’ve been in a significant number of years. Lenders went as far as to take them under the three percent line, which caused Flaherty to have some words about the potential «race to the bottom.»

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