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Mortgage Rates: Why Do Banks Have ‘Posted’ Rates

December 20, 2011

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 these ‘posted’ rates can come back to haunt you when you look to make any changes to your mortgage.