Banks pull back on low rate mortgages

Canada’s major banks pulled back on historic-low mortgage offers this week by raising their posted rates. But that doesn’t mean the deep discounting seen over the last month has necessarily ended.

Several of the banks are still unofficially offering deep discounts in the mortgage market through brokers and in-branch negotiations, while some credit unions say they are holding firm on rate offers brought in last month to compete with the banks.

via Banks pull back on low rate mortgages – The Globe and Mail.

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