At MonsterMortgage.ca, we receive a lot of questions from people talking about their bank’s ‘rates’. Inevitably, the discussion leads to the Bank’s ‘Posted’ Rates and their ‘Discounted’ Rates. If you’re looking to get a new mortgage through a typical big bank – the chances you walk out with the ‘posted’ rates are very slim – so why have them posted at all? MonsterMortgage.ca senior Mortgage Agent Kristian Harris answers this question and how upon renewal these ‘posted’ rates can come back to haunt you… …

Excerpt from:
Interest and Mortgage Rates – Why Do Banks Use Posted Rates?