BMO’s Low Rate Mortgage has come and gone.
The initial reaction by many mortgage brokers was panic. I even had a couple of brokers call me in fear of losing deals they had in the pipeline asking for advice.
BMO’s short term special allowed me to open the dialog and educate clients and referral sources on the limitations of certain mortgage products and the features of others. I fielded a number of calls and emails from both clients and potential clients inquiring about the historic low rate and it allowed me to further open the dialogue on how rate isn’t the only thing to consider when it comes to a clients mortgage.
I’m excited about the buzz BMO created in both our industry and mainstream media. I’m also excited on how it will benefit my business in the long term. The more people I can educate the better.