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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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2 F0 w! X/ y# _6 e$ w) qLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
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$ [& X, i2 P. \/ G6 x8 f9 u- n+ @Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.
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RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday./ y p9 d9 z2 p! ~1 d5 Z+ w
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The posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.
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6 u. B4 x$ s6 }4 a* j1 l& @& b' zOther banks are expected to follow with rate hikes of their own.
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) a& N6 N8 V* B+ N* [ X& @Yields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.: {/ p( r! M& y& a, d8 h8 v) a
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The yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
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& a9 G: e3 @9 t3 R* W( T* DThe posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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