The “mortgage wars” are heating up as new rates hit below what analysts thought possible.
Investors’ Group is out with a 1.99% variable three-year rate and Realtor Bob Quinlan with Prince George Royal LePage says it’s a sign you can’t predict what banks will to do get your business.
He says Investor’s Group uses a “loss leader” strategy to get people to invest their property equity back into their investment plans.
Quinlan predicts interest rates to fall even more as other banks rally to follow suit.
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