Bye Bye 2.99% – Mortgage Rates Go Up

Bye Bye 2.99% – Mortgage Rates Go Up
VICTORIA – The days of record low mortgage rates may be gone.

BMO stunned the market when it dropped its borrowing rate to just 2.99% last month.

And Royal Bank and TD followed suit, trying to stay competitive in a suffering market.

That all changed when the banks pulled the plug on the sub 3% rate today, due to concerns over the bond market.

Mortgage brokers say the change is nothing to panic about. The rates now sit at just over 3%.

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