We Canadians have been pretty spoiled with relatively low rates for some time. But as of yesterday, The Bank of Montreal announced it is lowering its rate on five-year fixed mortgages to 2.99 per cent, an all-time record low in Canada.
This recent announcement is likely to spur competition with our rival banks according to a recent Huffington Post article.
The question is, why should you care?
Read the full article here: http://www.walletpop.ca/blog/2012/01/13/interest-rates-hit-a-new-all-time-low-why-you-should-care/