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BMO, Scotiabank join RBC in quietly reducing mortgage rates ) @5 j+ D7 r$ {
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 9 b% |" o3 j/ K. }) p4 t
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. : F/ L& s) }# S; e" t3 s. W
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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8 A* j" [2 h- k- C0 z8 M! Y1 wTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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* e" Q' B9 Y ?! H, K9 R; nBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. % s3 |) L' H& D' ^ V) [
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity ! \$ ^# [2 W) F, z: h
1 u' L" S: I; E; b5 qMost 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 # _" j, \1 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.
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- M4 U' v; x) W0 _0 zBMO, 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. ) o( f' N* ~+ B- e
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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%. 1 a0 a* s5 Z& d b5 n
) T* Z" F+ ~2 K# l! g/ |) PTD 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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