Many of us recall the glory days of variable mortgage rates - prime less 0.95 or even prime less 1.1%. As such, many clients who now want a variable mortgage are reluctant to commit to a five year term today - in case the discount improves soon.
Street Capital recently came out with a one year ARM (adjustable rate mortgage) at a kick-ass rate of prime less 0.25%.
So for those of you waiting for deeper discounts, now you can have your cake and eat it too !
Essentially it's a free call on the market for a year.
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