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Longer Mortgage Terms?

In response to the BoC Governor Stephen Poloz's request for the big banks to present longer mortgage terms, HSBC has responded with a record breaking 10 year fixed mortgage rate of 2.99%. What does this mean?


This means that for 10 years the mortgage rate will remain the same. While 10 year fixed mortgages are not for everyone, it works well for the low risk consumer.


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