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RBC drops home mortgage rate* ~$ H" W1 e+ k$ Q9 F; \4 V3 Y" k8 ?
Sep. 5, 2006. 12:45 PM$ M( N! V% _* s, ^ s
CANADIAN PRESS8 R: B: J5 ~; }8 }4 }
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7 T2 t% ?) R# h! a, \( x D0 Q- JRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.1 _6 s: W2 e3 @, c& \( A
; i, ^! v; U, O9 k' [3 d4 M" ^At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.
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$ P. \* B3 B! W8 w, {( a0 s7 }The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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