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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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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET' g" z% i& S" U+ }0 f; U
CBC News
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8 L1 y+ q. q! U5 c2 z `; R) ^/ jMortgage 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.- l- T0 [+ V) z4 f6 g1 i5 l3 j! Y$ V
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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.
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: j+ Q) O/ z" P* L5 iThe 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.# J0 N( @, s7 V4 E
2 k6 @: k7 D) y6 O# KOther banks are expected to follow with rate hikes of their own.
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( N' ?6 b; t" h! U3 A8 WYields 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.
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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. 0 Q2 z# m0 M1 `, T; G# Z
) O ~) _# x+ {# `: tThe 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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