ATB Financial could follow suit with mortgage rate changes
Posted Jan 7, 2016 7:38 am.
This article is more than 5 years old.
In the wake of RBC’s announcement it will be hiking mortgage rates Friday; other banks are crunching the numbers.
The bank said Wednesday; its special offer on two to five year fixed rate mortages will rise by 0.1 per cent.
Rob Bennett, Executive VP for Retail Financial Services at ATB Financial, anticipates changes may be coming there too.
“I mean the two biggest factors are we have to look at are what the market’s doing, and what the bond yields are, and there’s also the consideration of risk,” he said.
Bennett says consumers need to understand that all mortgages are not the same.
He says the first thing to watch for, is if your bank posts inflated rates and makes you negotiate down to a contract rate, because it could affect the fees and penalties throughout the life of your mortgage.
