ING Direct Cuts Rates

ING Direct has cut its interest rates to match the trend of lowering rates among Canadian banks. This trend is a result of banks competing for new business in a housing market that has gone stale.

Changes to ING Direct mortgage rates include:

4 year fixed – 4.09%, down from 4.29%

5 year fixed – 4.15%, down from 4.29%

5 year variable – 2.10%, down from 2.15%