Bank of Montreal cuts fixed-rate mortgage 12th time since April,2010

Sept. 2, 2010 - PRLog -- Bank of Montreal said it is cutting rates on its special five-year fixed rate mortgage to tempt wary consumers back into the market during the fall home buying season.

"This is good news for Professional Real Estate investors" says Navtaj Chandhoke, founder of Professional Real Estate investors Group (PREIG) Canada.

Canada’s housing market has cooled sharply after last year’s boom, which helped pull the overall economy out of recession. Housing sales dropped 6.8% in July from the previous month and were down 30% from the previous year, according to the latest statistics from the Canadian Real Estate Association.
Introduction of HST in Ontario and British Columbia has had a huge negative impact on the Real Estate market.

"It’s a great time to buy to invest in Real Estate. With such a low interest rate,Real Estate investors can have decent return on their investment and build long term wealth" says Navtaj Chandhoke of World Wealth Builders, Canadian Real Estate Investors Education and Mentoring Center.

Royal Bank of Canada’s five-year special fixed-rate stands at 3.99%.

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