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EQ Bank Drops Its Reverse Mortgage Rates to All-Time Lows
For the first time on record, a non-promotional reverse mortgage rate is below a standard HELOC rate. EQ Bank, one of only two Canadian lenders offering reverse mortgages, announced a 15-bps drop to all of its rates Thursday, including its already discounted “Lump-Sum” rates that we reported on in December. For the lump-sum withdrawal option, borrowers can now access rates...