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BMO, Scotiabank join RBC in quietly reducing mortgage rates
" f- U$ v& ~5 @3 z8 d- v3 S" GCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET , G/ q2 H0 K8 M
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ' m8 U; o' R4 L! `( E* S
National 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.
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, v+ a' V, d! d' m( Y( l6 CBank 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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: d& h A K4 X; {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. : S8 z0 e n) b+ X
: I& s9 `( B( r& v. O( V8 LBMO, 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. 7 F1 r; F6 b- 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%. $ s$ R2 o4 I7 q2 \
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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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