Great Bank News!
More good news.....our 1 year special has dropped from 4.35% to 4.00%
effective today. We now have 4 products under 5% to choose from, however
our 5 year really is an exceptional deal (1.81% below posted rates) and 26
basis points below even ING!!
So, here are your client's options as of today:
5 yr fixed: 4.99%
4 yr fixed: 4.89%
5 yr variable: 4.50%
1 yr fixed: 4.00%
A lot has been in the news recently over the 6 big banks (not sure what the
6th is) not passing on the entire 3/4% decrease in the Bank of Canada's
prime rate. As you may recall the same thing happened in October and after
enough bad press, the banks finally bowed to the pressure and dropped
another 1/4%. I don't have an explanation or excuse for Scotiabank as to
why only a 1/2% drop. We'll see what happens over the next week or two.