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Make a call lock your rate for next 6 months or 1 year.8 d( d r. S' o8 Y, w7 C
Because:
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Alberta boom will continue to bloom and the bust is nowhere in sight, according to a new report by the TD Bank on the province’s economic future. As a result of the boom, three of Canada’s major banks are raising residential mortgage rates. The Bank of Montreal (BMO) and the Royal Bank (RY) said last week that their posted rates will raise as much as a quarter point beginning on Thursday. TD Bank’s (TD) rate changes went into effect October 10th, 2007.6 K$ t A' ^: ^- w: p K& b" e2 h
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BMO’s five year rate will increase 0.25 percentage points to 7.44 per cent, Royal Bank’s five year closed term will rise 0.21 points to 7.4 per cent, and TD Bank’s five year increased 0.25 points to 7.44 percent.
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+ z' c3 M' S6 T e$ |6 OIf you can get today's mortgage rate, and tomorrow's pricing you can minimize your monthly costs. Reserving a rate does not commit you to anything - you don't have to buy a home, you don't have to use that rate - but it does protect you from rising rates. |
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