Meridian makes home ownership more affordable with a 1.98 per cent, two-year fixed rate

TORONTO, March 12, 2019 /CNW/ - At a time when it has become increasingly difficult for Ontarians, particularly those starting out to buy a home, Meridian is doing its part to make the dream of home ownership a reality, offering the lowest two year fixed interest rate available in Canada. Meridian, Ontario's largest credit union, is offering a two-year fixed mortgage at 1.98 per cent, the lowest rate offered anywhere in the country in recent history.

"The reality is that it is next to impossible for many young people to get into the housing market in Ontario today. At Meridian, we think everyone deserves a chance to own a home and so we're doing what we can to make that goal more attainable with this incredibly low rate," says Dayna Whitney, Associate Vice President, Retail, Meridian.

Meridian's mortgage experts work closely with Members to help ensure they are well-informed about the financial realities of home ownership, including affordability guidelines and smart borrowing practices.

This limited-time offer is available to Ontarians who are financing an owner-occupied primary residence with an amortization period of 25 years or less. The offer is available for properties with a maximum purchase price of $1 million and an outstanding mortgage balance (after down payment) of $799,000 or less.

"This 1.98 per cent rate is going to be very welcome news to many frustrated would-be homebuyers in markets across the province," says Whitney. "We believe this is an extremely competitive rate and it represents an exceptional opportunity to save – particularly for first-time homebuyers."

For more information about how to take advantage of this low, two-year interest rate, please visit your nearest Meridian branch or visit www.meridianmortgages.ca.

About Meridian
With over 75 years of banking history, Meridian is Ontario's largest credit union and the third-largest in Canada, helping to grow the lives of its more than 300,000 Members. Meridian has $20.6 billion in assets under management, as of January 31, 2019, and delivers a full range of financial services online, by phone, by mobile and through a network of 91 branches across Ontario, and commercial banking services in 11 locations. Meridian Members also have access to THE EXCHANGE® Network, with 3,700 no-fee ABMs across Canada and 500,000 ABMs in the United States. For more information, please visit: meridiancu.ca.

SOURCE Meridian Credit Union

Media Contacts: Teresa Pagnutti, Meridian, 416) 597-4444 x2667, [email protected]; Sonia Prashar, spPR, 416-560-6753, [email protected]