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BMO, Scotiabank join RBC in quietly reducing mortgage rates
" G0 B# l1 S( |1 ^& K2 MCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
% z7 o8 B- g8 q3 NBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
% L6 c9 \( I+ INational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. # }* L9 J) w) b1 P2 S
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# ~8 c4 s$ R8 {2 tTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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8 N3 d) c6 s$ I* ^0 r( G3 b5 X" GBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. ; f w* i& Z8 Q8 u
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For 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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{8 ~! U+ ]5 t6 p- K, }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. & }" ?. q9 r w
& u6 ^! g5 v, u% {" I& {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%. 8 H% u2 p3 x4 C4 k, ?1 A
6 _+ o) l: k9 M* h( d2 d0 F oTD 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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