Monday's Assignment No. 2

1. What do you know of Canada’s Big Five? Take dictation of this report, 00:05 - 00:46. Check your transcript with 2 partners before publishing it on your blog.

Good morning Mike Eppel, 

Hey good morning Kevin we've got the big Canadian banks gearing up for what they expect to be a busy spring time real estate market and some ultra-low mortgage rates once again. The Bank of Montreal offering a special 5 year rate at 2.99% follows the TD bank so for year a rate at 2.97%.  We’re back to these rates below that 3% threshold. Last time we saw this was about a year ago you recall, when the Banks where publicly rebuked by then Finance Minister Jim Floury for lowering mortgage rates too much.They were concerned about creating a bubble in the housing market. Nobody sees that right now, they figure it’s going to be busy this spring time for real estate.They’re competing to get some more mortgage business, so again with very low borrowing costs.