ING Direct announced today that it has slashed its five-year fixed posted mortgage rate so that it is now 1.45% lower than the average posted rate of the big banks.
ING Direct’s new five-year fixed mortgage rate is 5.35%.
According to ING Direct, a rate 1.45% lower than those charged by Canadian banks means that a client could save up to $52,222 over the lifetime of a $200,000 mortgage amortized over 25 years.
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