About a week ago I had talked about lenders trying to decrease the discount off of prime.
One major lender, one of the largest mortgage lenders in Canada, had tried hoping that others would follow suite.
Well it didn't happen, or hasn't happened as of yet. Some of the lenders that moved slightly are back to where they were just prior.
I believe it was this one lenders kick at the can to try and slow down the variable business as for the lenders they're not huge money makers as a fixed rate is. Currently they are way offside with their variable discount and I can only imagine that they will soon be back to normal.
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