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We're hearing that FirstLine's popular Matrix mortgage will finally get a variable rate option. The ETA is supposedly late May.
Clients have been asking for this for months--probably because of all the information on the Internet pushing variables. As a result, this new option should significantly increase the Matrix's popularity (assuming FirstLine discounts it sufficiently).
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This is good news for FirstLine - I always thought it was a bit odd that they wouldn't have a full product line considering they are owned by CIBC.
Mike
Posted by: Four Pillars | January 29, 2008 at 07:43 PM
Hi FP, Me too. FWIW, we were told the delay in adding a variable to the Matrix was due to back end limitations in their computer systems.
Cheers,
Rob
Posted by: Canadian Mortgage | January 29, 2008 at 08:51 PM
Has anyone heard when this product is going to be available? My mortgage broker still has no idea.
Posted by: MarkK | April 23, 2008 at 01:50 PM
Late May was the last update we got. Although the timeframe on this product has been extended before so all we can do is hope!
Posted by: Canadian Mortgage | April 24, 2008 at 08:01 AM
"Last week of May" is what I've heard from people at FL.
Posted by: Rennie | April 25, 2008 at 10:46 PM
Will just have to keep my fingers crossed. My renewal is mid May. I'll just keep my mortgage in an open state for a few extra days.
Posted by: MarkK | April 25, 2008 at 11:04 PM