Canadian Mortgage Restrictions

You’ve bought a new house, and you’re sitting with the bank’s loans officer ready to sign for that mortgage. Then she casually asks, “Would you like mortgage insurance with that?”—almost like your waiter asking whether you’d like fries or salad with your burger.

If you’ve been shopping around for a mortgage, you’ve probably heard about Investor’s Group’s offering of a variable-rate mortgage for 1.99 percent for a three-year term. This seems amazingly good. But is it too good to be true? Here’s the lowdown on those down-low mortgage rates.