Yesterday, the shareholders of Toronto based Mortgage Co. Xceed voted to approve a plan to become a schedule 1 bank. This will allow Xceed to take deposits from the public to invest in mortgages. Look out for Xceed as they grow hopefully they will combine innovative products for the consumer with competitive rates.
Currently Xceed is offering the following mortgage interest rates through their Toronto Mortgage broker channel:
-3.94 for a fixed 3 year
-4.24% for a fixed 5 year
