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RBC drops home mortgage rate- W; }, p, n4 }
Sep. 5, 2006. 12:45 PM
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.4 \* d4 w; n8 v% S( Q. C; Q
) E( g& V) K2 D! g+ WCanada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.
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9 o- h0 D6 [) PAt the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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