Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: & R: W4 e- ?! }6 q' U+ X/ f) Z9 C2 G: ^( s' M/ O1 E3 t9 M
1. Deal must close by August 28th 2009 . p3 E5 E5 O# E5 D5 r% v* ^# Z
2. New Deals Only, No pre-approvals. # N/ Y5 r' j& v, q. t* M
3. Switches and transfers are not permitted. : A K8 o- ~( e+ `/ P4. The 18-month term is convertible at any time with no penalty to a 5 year fixed rate mortgage, at published rates available at time of conversion 0 S* u! x0 Q* _9 u8 o S
5. Available on both conventional and high ratio (CMHC). " C% q @( ]- D* y7 ?6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. " P3 Y# b) n! Z ~) f5 z) x5 N0 t7. Minimum amortization is 15 years.