Description: This may never have been seen in Canada before: a mortgage rate below 1%. CanWise Financial’s President, James Laird, stated that the 0.99% figure HSBC placed on offer is “definitely eye catching.” And that may just be the point. Samantha Brookes, the CEO of Mortgages of Canada observed that “banks are being aggressive in trying to keep their numbers up”

Date:  December 6, 2020

Source:  cbc.ca

 Link: https://www.cbc.ca/news/business/mortages-covid-hsbc-1.5828934

Discussion points:

1) Does that 0.99% rate grab your attention?

2) Do you see this as a unique marketing strategy?

3) On page 10-15 of Wiley’s Financial Accounting: Tools for Business Decision-Making, you find an “Accounting Matters” text box with an interesting discussion of personal mortgages and debt rates of Canadians. What is your personal debt to income percentage?