Jason | Sent from my iPhone
Begin forwarded message:
From: "Wang, Jason (Burnaby)" <jason.wang@rbc.com>
Date: April 5, 2015 at 4:20:48 PM PDT
To: "'computerdiy@yahoo.com'" <computerdiy@yahoo.com>
Subject: broker teaser rates on rate comparison sites
A good article on the Canadian Mortgage Trends site about mortgage rate comparison sites and the types of rates that are advertised on these sites. Of particular interest is the comment about 'Bait and Switch' and 'Teaser Rate' tactics employed by some lenders/brokers.Bait and Switch: In some cases a rate is advertised but only a handful of people qualify for the rate. The majority of people inquiring about the rate are directed to another product with a higher rate than advertised.Teaser Rate: The rate may be offered but it's a no-frills rate. i.e. 30 day rate hold, low pre-payment option, etc._______________________________________________________________________
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