Saturday, April 11, 2015

The lowest mortgage rate in Canadian history


Deal Link: http://www.meridiancu.ca/Pages/welcome.aspx

Have you heard of Meridian Credit Union before? Meridian Credit Union was formed April 1, 2005, following the merger of Niagara Credit Union and HEPCOE Credit Union. It is the fourth largest credit union in Canada, and the largest credit union in Ontario.

On Apr 9, Meridian announced an 18-month fixed mortgage at 1.49%, which is the lowest known posted mortgage rate in Canadian history.  Meridian also provides a good repayment options on the market. Meridian’s 20/20 prepayment program allows Members the option of paying down up to 20 per cent of the original principal balance without penalty each year.

I have to admit that this 1.49% mortgage is amazing (or "crazy"). BTW, at the same time, Meridian provides 1.6% interest rate on its high interest saving account.