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If Mortgage Rates Can Fall Through the “floor” of the Prime Rate…what Else is Under the Floor?

If Mortgage Rates Can Fall Through the “floor” of the Prime Rate…what Else is Under the Floor? “Lower than prime,” you heard someone say. Like most Canadians, you were probably first skeptical and then confused. We tend to think of the prime lending rate as the invisible “floor” of lending rates. The very best customers can get very close to that floor. It is...

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Mortgage costs fall again

Mortgage costs fall again The average cost of a two-year fixed rate mortgage has fallen to its lowest level for nearly seven years. Related Stories Nearly one million people freed from income tax Osborne increases VAT to 20% Britain’s banks to pay balance sheet tax 10% capital gains tax rise for higher rate payers VAT will rise to 20% next year Read more on Belfast Telegraph Mortgage costs fall...