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BMO, Scotiabank join RBC in quietly reducing mortgage rates
% c$ j3 `0 c( k1 d9 x0 k# rCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
, B5 p$ s; \0 a- ] c( `. ]4 V( KBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 8 E$ z* T$ x! J. ]( V7 G0 `, l
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 5 Q. q: F! U1 [) r
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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. [: V9 F+ C" L- a! }Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. ?- t0 l& n n; |; f
J2 d* t2 U) D9 c. }- K: C+ lHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity ! q$ y8 J' j) t) J9 q, ~
) W4 C. q; i; QMost 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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( J9 U* }3 Z- m bContinue reading
* O( Y$ k( {! mFor 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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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. 2 k! d- e! d& h" M/ o* i
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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%. : s# o5 c: d6 d/ N0 }
( i j) @' ]) w3 `2 o0 jTD 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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