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BMO, Scotiabank join RBC in quietly reducing mortgage rates + `; y+ v% P% H3 x: P
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
. Y$ \# L/ `3 b& {1 aBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
1 i$ z$ @( y5 e- E% \National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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TORONTO — 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. ; {6 f2 ^7 _# A8 C$ P1 M, c
3 Q& J5 `5 S$ P% d" |2 ]How factory-built homes are shedding their ‘cheap’ label and exploding in popularity ( r7 l$ P# N4 P2 `
. T; s) C6 [$ E( FMost 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 2 ^6 y; T Q0 {) x D7 j1 q
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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. 7 b8 e: H$ \/ Y/ D0 a
) k. p6 n8 N) P; YBMO, 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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& @; |0 H; G: H/ I/ Z: OThe 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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a) U- k: @ Y' k7 qTD 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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