Just moments after major lenders, led by RBC, announced rate reductions on their posted fixed rates Merix Financial also announced a deeper discount to their variable rate mortgage. Merix Financial is now offering a 3 year closed variable rate term at Prime minus 0.25%. Effective today that means a rate of 2.00%. This is now the largest discount being offered on products of this type and the deepest discount in over a year and a half.
Over the past few months, Merix Financial has been a leader in offering better variable rate mortgage discounts.
So far no other lender has matched this offering.