People shopping around for a fixed-rate mortgage may stumble upon five-year fixed rates advertised at 3.99%, which may financial experts call ‘exceptional’ deals. But, those aren’t on offer for all types of clients and people are advised to read the fine print. There are reduced rates on offer and that has a lot to do with the ripple effect from the U.S. Federal Reserve’s first rate cut in four years, announced Wednesday. Anne Gaviola has more on the impact of the American central bank’s monetary policy on the Bank of Canada and the Canadian mortgage market.