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Bank of Montreal Message Board

  • mroleandn2000 mroleandn2000 Mar 4, 2013 12:24 PM Flag

    BMO chided for their 2.99%/5yr

    by Flaherty. Look it up. Interesting article.

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    • Also told Manulife to discontue their 2.95 5 yr term. Real interference by the feds in free-enterprise. Meanwhile most canadian banks wont even write a mortgage unless its CMHC insured by federal govt. Some banks have paid CMHC to insure their existing conventional mortgages as the banks expense because of fears of a sub-prime meltdown as what happened in 2008-2009 .Many in toronto and vancouver feel prices are grossly inflated and there could be serious correction in real estate values resulting in many mortgages being "underwater" as has allready happened in Nevada, Michigan ,Florida etc.This increase in CMHC insurance has Flaherty using his influence but his govt which is the PCs still has a large deficit which has increased in spite of their PMs claims he would balance the budget which has not happenned. High unemployment, increased inflation. Most feel a 2point increase in interest will cause massive foreclosures as consumer credit-card debt etc is at all-time highs as are personal and corporate bankruptcies. The real picture is not what PM called Harper tells CNBC. JMHO

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