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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html5 g1 t1 C5 g, q( ~# h [
0 f) M5 M% U @! MLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
- b A5 r$ x& iCBC News! \5 H4 E" `' A9 a X
% ]8 h/ G; ~0 e; O9 Y+ a/ K$ h# `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.% x6 ^- w7 t# l! o2 L3 L
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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.3 y3 Q$ E5 h8 m9 ~
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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.4 c5 C ]" ?2 ^* Q2 K, A
' E( G' R$ ? G0 T: T, m+ FOther banks are expected to follow with rate hikes of their own.& h( s7 f, t7 Z9 l$ j2 @ }
% u! m; }8 j. w& Y E& |: yYields 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.+ l: Z7 ]7 b& }( t0 y* h% F
/ X# U! A7 C" t! V- g5 }: z9 PThe 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. # J6 f- j7 F7 ]7 U! Q, x
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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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