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Stock impact report

To get the best mortgage rate, look behind the opaque curtain of Big Bank pricing [Globe and Mail, The (Toronto, Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
The Big Six banks – Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada (RBC, TD, Scotiabank, BMO, CIBC and National) – control more than 70 per cent of the residential mortgage market , yet they rarely reveal the lowest rates they offer prime borrowers. Their advertised rates are typically much higher than what clients actually receive. Have homes gotten pricier – or has money lost its value? Data from WOWA Data Labs shows a significant gap between advertised mortgage rates and the actual rates borrowers receive. As the table below illustrates, for three-year fixed conventional mortgages, RBC, TD, Scotiabank, BMO and CIBC, on average, offered rates more than 0.50 percentage points below their advertised rates in our sample. Similar spreads appeared across other terms, including five-year fixed mortgages. A 0.5-percentage-point difference on a $500,000 mortgage amounts to approximatel Show less Read more
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