OTTAWA • Insisting that he will not tolerate a “race to the bottom” on mortgage rates, Finance Minister Jim Flaherty has succeeded in pressuring Manulife Bank to cancel its plans to offer consumers a lower interest rate on its five-year-fixed mortgage. The intervention drew fire Tuesday from critics, inside and outside the House of Commons, accusing the minister of manipulating market prices.
http://business.financialpost.com/2013/03/19/manulife-pulls-low-rate-mortgage-offer-after-pressure-from-ottawa/?__lsa=bfef-b88f
Financial Post: Flaherty blasted for pressuring Manulife to pull low-rate mortgage
Blog by Brad Herman | March 20th, 2013
