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BMO, Scotiabank join RBC in quietly reducing mortgage rates
: P( Y5 H* n% Z- ?* ZCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
; O' |$ }" P" I. L( g* ]2 kBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
% U8 ~$ m( Z5 M* z. yNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. / }! @/ ], k% T. O4 K
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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1 B: Z6 [6 T4 S U# QBank 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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% M. f' B/ m# {( Y3 {# @0 ~How factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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8 ]& b( R; a! \# d, |8 P5 vMost new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days 7 _& e7 m K9 M/ A, [1 S. d
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) v+ E+ Q& S/ V) WFor 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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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.
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" a" h- A' B% E; u1 {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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TD 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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