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BMO, Scotiabank join RBC in quietly reducing mortgage rates
8 R w8 i1 l0 b; ZCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
* J2 b8 ?, B; d8 kBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
% s3 }! q; ^+ q2 X1 xNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 7 W% M" W( j* h1 z& I& ]
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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% j# b$ u5 N8 q2 V; M0 FFor example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday.
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2 k( J3 o" M8 M7 w! P* SBMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca. 3 h& Y; Y+ o8 f% `
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The changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%.
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$ S, J$ X+ v4 _2 q# gTD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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