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BMO, Scotiabank join RBC in quietly reducing mortgage rates / ^) `+ J9 T6 l. ^$ F; N4 A
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET & R% Z8 |( o' l: {# {2 S
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
9 V) g0 j- Q& A. s& iNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 3 E$ r: T; l3 {
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. " b/ T, `$ h( J
# u: x5 Q, ?$ K2 ]Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 8 f" D$ \9 x, u9 g# n/ d
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9 c% v, n, v4 o6 Z/ V8 Y; ?6 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.
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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%.
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+ H" @& ?* P% j4 O" BTD 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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