Credit union offers mortgage rate of just 1.49 per cent

Credit union offers mortgage rate of just 1.49 per cent

Credit union offers mortgage rate of just 1.49 per cent As the housing market continues to boom in parts of Canada thanks to the already low mortgage rates available, one credit union has shaken up the spring buying season by offering a rate of 1.49 per cent. The Toronto based Meridian’s fixed rate is however only a short loan, just 18 months, and is only available to those in Ontario. Rob McLister, founder of ratespy.com, told the Financial Post that it will save buyers $1,609 of interest for every $100,000 borrowed.