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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html: D6 e3 s% w7 m- q5 J; h3 H& N
: d: g. \$ x: O D5 r' w+ J1 D: rLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET- ?3 k; h0 e0 _: x
CBC News; V0 t, n: V* z1 Z. K, F
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Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.- r1 |* ^: N1 n
) l; I) ]2 n6 t3 R+ |( o. NRBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday. j, f u3 b k# z5 V1 r# i) Z
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The posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.6 O4 {/ e$ h' X1 P$ w) i/ d
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Other banks are expected to follow with rate hikes of their own.
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2 P& J5 N; ]+ [! jYields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
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The yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May. 2 A5 D* @& t+ X4 e0 A1 i5 j
) N) d9 T, s5 ^7 j& }The posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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