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BMO, Scotiabank join RBC in quietly reducing mortgage rates
' G% \0 g' o! T9 s% w _Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ' @0 b+ g+ j% |( E
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 5 v U+ M, A: H6 A
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 0 x& z% G% G+ m% p B6 q
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& f( n p8 p' `3 H0 `3 M0 sTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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: V. z2 }- H2 v# K$ OHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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6 K/ _. F0 i, ]! \# k2 UMost new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days
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7 @0 q# t. V0 a) B& R2 T6 V) ~Continue reading
9 k& e9 ] B7 e) [& G& l% d! `2 q4 zFor example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday.
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. w9 N+ _2 B0 ^BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca.
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. `! v. v( r- E' [The changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%.
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4 p, S$ |# O n6 FTD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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