ATB Financial introduces clear mortgage prices

EDMONTON, Aug. 1, 2013 /CNW/ - This morning, we stopped doing what the others do.

As of right now, there's no more confusion about posted rates when it comes to getting a mortgage from ATB Financial.

"Customers look to their financial institution for guidance, so a customer's mortgage rate should not be based on their negotiation skills," says Rob Bennett. Rob is the executive vice-president of ATB Retail Financial Services.

"The way banks post mortgage rates is an unnecessary practice that makes an already stressful consumer decision more complicated."

As of right now, the inflated posted rates you see—nobody pays them, anyway—are gone at ATB. As of right now, the discount rates nobody sees posted anywhere are the rates you get.

That means the mortgage rates we post on atb.com are now the market rates you should expect to pay.

That means no more guesswork when it comes to how far apart posted rates are from the actual market rate. No more feeling that maybe you just didn't negotiate well enough or that you didn't come armed with enough knowledge and numbers.

"I understand the practice, but it's not how we are going to treat our mortgage customers at ATB," says Bennett. "That's why we're making the change and why we will keep looking to make changes that make things clearer for our customers."

If you are interested in learning more about this clear move from ATB, or more about what hasn't changed (that is, our best rate mortgage guarantee), please give us a call.

SOURCE: ATB Financial

or interview requests, please contact:

Barry Strader
Corporate Reporter
ATB Financial
[phone] (cell); [phone] (office)
email: [email protected]