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).
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
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
Has anyone heard when this product is going to be available? My mortgage broker still has no idea.
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!
“Last week of May” is what I’ve heard from people at FL.
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.