The most recent mortgage rule change that has yanked the welcome mat from underneath first time home buyers has put the spotlight on Posted Mortgage Interest Rates.
The Posted Mortgage Interest Rates used to serve just two purposes.
Number one is the banks use the posted mortgage interest rate to rip off Canadians that pay off the mortgage before the term is over.
Number two is the banks use smoke and mirrors to fool Canadians into thinking the bank is giving them a break from the posted mortgage interest rate. [Read more…] about Posted Mortgage Rate Rip Off