 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html6 W/ k; k8 l/ J3 d, D
6 X+ o: I2 W: G7 c
Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET
+ I# m. ?( |3 J+ F$ n& Y$ JCBC News- M# f; ~9 h7 y- `) ^) }, T: r
( b, H E7 O; h- d9 u4 D' }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.
+ A7 C( c7 F' U( G
4 C5 t: U( S: U9 V8 r5 wRBC 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.0 c6 E: m% x* q6 @) O
5 \, X& l( {8 S
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.( ?8 ^0 S+ v; U+ ~' ?3 H7 r
' W+ U' I x) Y$ Y( Q% M$ v
Other banks are expected to follow with rate hikes of their own.3 X, c) X# | Q, |1 j$ @8 d0 Q3 o8 t
3 F) C/ Z' I" s" d, ` P: H4 ]8 ^
Yields 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.
$ I7 Z; r5 m9 j' l8 t" t2 B9 }# B7 R8 D% {. D6 Z/ ?
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.
1 d& p9 v+ }- p* U0 x/ s2 O1 ~+ W( u: `$ R7 Z' ~* D; Z
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. |
|