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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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- |; S) R! \- c; {2 {9 y, d1 u3 C1 N9 JLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET7 [* b a [" W: q8 R( ]( ]+ Y. w
CBC News
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$ J6 y, t4 {& n8 N e: W2 R8 oMortgage 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.
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4 ]+ O& J3 ~9 K6 P& e! z8 C ?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.* J- g- O" M+ V' _6 m) k# |- z
3 ^! _) c5 @" d- w! `) E$ `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.5 v! R2 ^$ A( J4 c4 x
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Other banks are expected to follow with rate hikes of their own.
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* M+ a! N- t* h2 V, r" U p' L3 XYields 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.( b' {8 w; }5 E
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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. 9 n5 g t& R) \. p
$ T- E; Z: G/ p& P0 Z& KThe 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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