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RBC drops home mortgage rate
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CANADIAN PRESS
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/ L' d6 }4 L0 \8 p+ P) i e2 |* ~Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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Canada'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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At 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.3 i3 S# T% l, _& Y: ]
9 ?+ i. w# h2 U; \/ Q3 n! D0 sThe 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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