News Release: Scotiabank has an agreement to purchase the Canadian operations of ING Direct. At this time it would appear that ING will continue to operate as a strong independent brand, offering self service banking, and investing without branch services and advice.
Mortgage Brokers will continue to provide clients with mortgage advice while obtaining an ING Mortgage (unmortgage).
Among the benefits of a standard ING mortgage including…
25% pre payment options,
Amortizations of 5-30 years,
And Early renewal options, ING also currently has an outstanding 10 year offer at 3.89%.
Although ING and Scotiabank mortgages are similar in many aspects, Scotiabank generally does not have the appetite that ING does for 10 year mortgages, which could result in the removal of the 3.89% 10 year mortgage offer, once Scotiabank treasury departments complete their in-depth analysis of current ING mortgage specials.
My advice, if you would like to take advantage of our current low interest rate environments, for the longest time possible, email me today to discuss getting a 10 year 3.89% mortgage before it’s gone!
Market Coment…Bonds were very stable this week keeping five year rates in the 3.09-3.19% range.
If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.
Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.
Bank prime is 3.00% The next meeting of the Bank of Canada is on September 5th, 2012.
If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
Have a great weekend!
Mortgage Advisor at Neighbourhood Dominion Lending Centres, firstname.lastname@example.org or 705-794-1283, or visit us at 39 Collier Street downtown Barrie.