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Will Flaherty’s ‘optics’ end the mortgage wars?


Blog by Brad Herman | March 20th, 2013


Jim Flaherty has a lot more calls to make.

The story circulating for the past couple of weeks is the finance minister or his office has been quietly scolding major financial institutions for engaging in so-called mortgage-rate wars that had seen the advertised rates on a five-year fixed rate product drop to 2.99%. The latest financial institution to get the call was Manulife, after it began promoting a 2.89% rate on a five-year closed mortgage, down a mere 20 basis points from 3.09%.

http://business.financialpost.com/2013/03/19/flaherty-manulife-mortgage-rates/?__lsa=5184-363b