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BMO, Scotiabank join RBC in quietly reducing mortgage rates % `/ z3 i: X; [5 y) K* p
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET + p+ }% [! u m; L; v
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
4 m9 {% E. B$ ~3 n3 g# jNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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2 R4 v) _! O# W" u) l* t' `TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 3 u* N; G$ H9 j' _) \ R
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days
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2 K% {+ W/ a9 m* u, M1 sContinue reading 3 o( |6 [+ O' h: }
For example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday. # L. e6 q; X/ W- b
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BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca. 7 J' j; p- }+ f# B3 i1 v
4 ]4 q% U0 M9 m) `3 ] {The changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%. * X! f4 x( X+ q8 i% @. v
% O8 w( a$ t) {9 ^TD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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