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BMO, Scotiabank join RBC in quietly reducing mortgage rates 5 p, H- @9 J7 [2 m
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET . F8 V7 n3 i8 ^
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
2 V& N) o3 O I0 i4 ~National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * I" e7 p& C+ }6 X" c% s) @
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' b2 n8 R2 R- D! n9 mTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. ( \0 @ }$ P( }5 |9 m! b! k
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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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# x6 M' Y0 J5 BMost 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 : w& k! Y1 X e. ^( E' L
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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. , `4 f9 J" b" p, z2 Y4 N
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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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, z9 w+ A. E3 a, O+ j9 ~, E$ DThe 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%. % n4 q) V3 s |" G
8 e% G! J6 N* ^7 }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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