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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html0 V; C0 L9 L/ f. ]9 ?* B% u
* T' w! S3 N( k& j& w6 R8 |5 tLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
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) @7 |, B) y8 G2 A9 wMortgage 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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0 c$ G8 Z" p& D2 z" ERBC 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." h1 M7 w m' g
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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., k/ p, |2 R7 l5 K# Q3 u1 e
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Other banks are expected to follow with rate hikes of their own.. Z+ A7 _# J& l7 D- N
4 P' {7 D9 n) f* M8 o( G [: qYields 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.4 ^/ b' H- a" ~. b5 M1 n( D
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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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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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