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BMO, Scotiabank join RBC in quietly reducing mortgage rates
. z; X# g; E/ dCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 3 c8 n7 V7 r- t C/ H3 S& ^( w
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ) `' R- r/ G [* }
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. " f. \$ E- w6 ^
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. w, F5 c9 N8 z+ E8 ETORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. ' G/ k$ j: T/ E" O/ f. }
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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. % {$ t0 T6 }; e& A
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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.
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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.
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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%. 5 @! X2 h5 O) F' P6 I
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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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