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RBC drops home mortgage rate+ j8 ^; E& B" c" [2 H. ^
Sep. 5, 2006. 12:45 PM9 @# u+ e7 J3 ~
CANADIAN PRESS. p! R, q, L: B) Y
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.7 j" l' V, L/ O( n! D& x1 |! M) M# t! ^/ h
9 H% y. O& C: r2 e* s' ICanada'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.
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& ]5 K5 t0 B* A+ H; B& N" WAt 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.9 b! \* y6 ?4 x: s& L; g0 D- k
o' T4 @; @6 @* n; ?2 r8 KThe 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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