Extensive Mortgage Research Finds the Lowest Mortgage Rates in Canada
Edmonton, AB (PRWEB) November 04, 2011
Market Research Canada (MRC), has conducted a study of mortgage rates available to Canadian homeowners, for the entire one-year period of September 8, 2010 to September 27, 2011. In this study, the second of its kind performed by MRC, the entire Canadian mortgage lending market was reviewed in detail.
Results
The results clearly show that for each of the mortgage types and terms studied, homeowners selecting MortgageFlex as their lender were consistently able to take advantage of mortgage rates which were better than the published rates of any of the major lenders reviewed. Canadian homeowners choosing to borrow through MortgageFlex during the year, incurred lower interest costs than they would have with any of the other lenders reviewed. Based on our findings during this study, Market Research Canada continues to believe that rates offered by MortgageFlex are consistently lower than the best lowest discounted rates offered publicly by any major Canadian mortgage lender.
Our Opinion
Market Research Canada finds that the rate differentials found throughout the study are not insignificant. The study shows that borrowers would incur the lowest amount of interest expense possible, by arranging their financing through MortgageFlex, versus establishing mortgage borrowings with any of the other Canadian lenders reviewed at their best discounted rates for the mortgage instruments reviewed.
Thus a mortgage borrower would save more than $ 9,500 in interest costs by selecting MortgageFlex over the best discounted rates offered by competing lenders for a fixed term, either 3 or 5 years, and more than $ 10,500 by selecting MortgageFlex for a variable rate 5 year term.
Details
All of the following major Canadian mortgage lenders were included in this study, using the best, or lowest, identified mortgage rates published on their websites. Care was taken during the review to make sure that any special rates advertised on their sites, and all discounts described as available were taken into consideration to ensure that each institution’s very best discounted rate published was used in all instances.
Royal Bank of Canada
CIBC
Scotiabank
TD Canada Trust
Bank of Montreal
ATB Financial
Servus Credit Union
PC Financial
MortgageFlex
Contacts
Hal Tagg – President
MortgageFlex
116, 4310 – 33 Street
Stony Plain, AB T7Z0A8
Phone 780-968-5332
http://www.mortgageflex.ca
hal(at)mortgageflex(dot)ca
Warren Gray
President
Market Research Canada
422 St. Leger St., Lower
Kitchener, Ontario
N2H 4M9
519-581-1381
http://www.marketresearchcanada.com
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