Discounted Variable Rates are Back!
Once upon a time, discounted variable rate mortgages were the norm. However, the credit crisis in 2008 changed all that, and actually pushed variable rates well above prime rate.
With the economy starting to come around (supposedly), and global credit easing, variable rate mortgages are getting cheaper again. Just recently, the big banks started offering variable rates at prime which is a great improvement over the prime + 1% they were offering at the peak of the crisis.
However, you probably aren’t satisfied with paying prime on your mortgage, you want a discount off prime. Until now, that hasn’t been possible.
Our friends and blogger colleagues at Canadian Mortgage Trends have a special offer exclusively for Million Dollar Journey readers. They are offering a variable rate mortgage at Prime – 0.25%!
* Canada’s lowest variable rate (as far as we know!)
* From the country’s most reputable lenders
* 15-20% lump-sum pre-payment options
* Optionally increase payments up 15-100%
* Lock into a discounted fixed rate at any time without cost
* Available readvanceable line of credit (80% LTV maximum)
This is a limited time offer which expires November 1, 2009. If you are in the market for a mortgage, you can read about the details here.
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