THINK Financial offers competitive rates with higher prepayment privileges and lower mortgage contract penalties. People’s Bank provides lower rates compared to Big Five Banks. Bank of Montreal offers the lowest interest rates on 5-year fixed-rate mortgages and can close mortgages in 18 to 40 days. Bank of China has good customer service but less competitive rates. First Nations Bank of Canada offers better rates than larger competitors. Bank of Canada cut its key interest rate to 4.75%, the first cut in over four years, aiming to ease inflation.
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