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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( s7 t* g2 q9 V) r* v5 v; |
CBC News
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8 j& B8 G0 p1 a5 IMortgage 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.4 c2 F% g4 r! `6 B. }/ {% c2 T
, {2 j) o% J8 I3 r& @) Q' WRBC 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.6 z( l9 c7 r+ D$ \" Y2 j+ E
8 Q8 M; M& s/ H+ l3 \5 l8 ^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.' j) y2 K! o. P
0 S% j8 a( B- [3 {, _0 u' tOther banks are expected to follow with rate hikes of their own.9 \- U- H# _! p& q8 v( q- `6 m
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Yields 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.+ M$ o* r8 G4 S5 f. J2 U& d' n; n
& E! H U2 Y5 G3 W7 ~- p5 D; J# ]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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