Canadian mortgage rate "deals" will be around for a while

As reported on Global News, that record-low mortgage offer touted by the Bank of Montreal two weeks ago may be history, but there are plenty of bargains still available. 

BMO - the fourth-largest of Canada's five biggest banks - was offering a five-year mortgage at 2.99 per cent, but only if it was amortized over a maximum of 25 years. There were other conditions as well. 

The deal created a stir and got other banks to quickly offer similar packages to try to attract mortgage customers at a time of year when the housing market is traditionally fairly quiet.

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