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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html. y' H8 R+ X. _8 @* N l6 x
4 f9 v# o( p# q; U, P9 T( k2 X* MLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET* v4 L3 \9 W7 A2 _5 N' ~
CBC News
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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.& ~) G/ a& i: ~% T! j
2 {+ L* y( n& ` i- x1 `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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1 @3 `! K* m" ~2 y' f/ tThe 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.+ j) |( Z- u9 u0 m- l! E
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Other banks are expected to follow with rate hikes of their own.
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4 k L g. W1 o" VYields 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. K# h7 r: n8 z& J, J0 d X y- v
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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. 6 z, v T$ j5 g* B' M' w: ]: 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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