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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html/ v/ W( f5 j- G7 @, w- P
* Z3 `! ~0 x$ B2 x. Y- t2 _! kLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
. f7 w8 t) h9 bCBC News- \% a8 H$ v1 e) @$ b* V
4 w9 T8 u/ _+ xMortgage 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.1 R) c! g" h+ e5 s5 D
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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., d- h) }5 m, V( t
# c) L/ y' A6 `. BThe 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.2 N$ X1 E5 i# }2 g8 n3 u! _9 E
0 P& u- m) n$ iOther banks are expected to follow with rate hikes of their own.( p8 |' G4 M4 E! L; Q
& U6 y4 g" G! i, Q- n1 a, b/ n1 U* L1 tYields 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.# ^# D: x# g2 r3 I# r( x5 U
6 s$ N a1 {+ f8 h6 ?# a. qThe 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. ; D, G+ I9 d4 J, S+ ^
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The 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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