Robert McLister·New Mortgage Products·June 26, 2009HELOC Deal National Bank already has one of the top readvanceable mortgages in Canada. Now it’s better. NBC has cut its line of credit (LOC) rate down to prime + 0.85% (3.10% as of today). This is the lowest fully-open LOC rate that we’re aware of. If you add a 4, 5, 6, 7, or 10-year fixed portion, or a variable-rate portion, you can get the AIO LOC rate even lower–to prime + 0.75%. (The AIO can be split into multiple portions.) National is the 2nd bank that’s reduced its HELOC rate below prime + 1%. That’s good to see. Hopefully it inspires other lenders to price their LOCs more competitively. ____________________________________________________ Sidebar: Here are additional details on the All-in-One. For more information, contact a mortgage planner near you. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.