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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET2 @( j+ a+ z- ` ]2 Z
CBC News- c. f0 u4 x5 f* U8 h
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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.+ \6 C* U0 R# A8 g9 K
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RBC 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.' O3 x' X* g; e9 W
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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.
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Other banks are expected to follow with rate hikes of their own.9 E( _& L) Y) ]: M
% ~% O7 Z! Z2 F+ C* LYields 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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& Z5 ^0 S C d* q7 sThe 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. ) P. i$ y$ U2 L' E6 A
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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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