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BMO, Scotiabank join RBC in quietly reducing mortgage rates 9 m6 D/ \% O6 s7 N( i* L4 G
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET / L" M, _. ]# |- p8 t$ d q( d
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. # l# G4 N) h( v: T
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. , c# w% u% S4 |$ ~
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 7 c* W$ T' @' x/ A
+ q: \9 T; ?0 t0 W# n! R7 t2 f* FBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. * H: K+ S# ^, n0 {0 f7 a" z
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0 b, C' u) `" Q- V, UContinue reading 3 ^+ F- h! m7 M; _( U
For 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. # O. e( @. a4 u9 a9 d$ k
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BMO, 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. 2 F' N# M) F3 K5 q9 d8 y
) w7 X' W+ L* w3 VThe 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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! |8 z1 }6 N4 O+ l; f* fTD 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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