TORONTO, Canada—With backing at least in part from a credit union, a Canadian mortgage broker is offering a one-day Black Friday only special with a five-year, fixed rate mortgage priced at 2.59%.
The same broker is also offering a one-day special today on variable-rate mortgage priced at 2.05%.
The special offer is being made by Rob McLister, who is a mortgage broker, is editor of Canadian Mortgage Trends, and also operates the website RateSpy.com. McClister said that DUCA Financial Services Credit Union is financing the 2.59% special. He declined in an interview with The Financial Post to identify the lender underwriting the variable-rate mortgage, which is just 95 BPs off prime.