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BMO, Scotiabank join RBC in quietly reducing mortgage rates $ C" x3 { F* Z1 [2 x
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
- |6 _* q4 c; O4 @% N& D% Z" ~Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
& z! W# _: j8 t6 k* oNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. , @8 C( Z* W* B: _
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 7 [/ W9 Y. ]4 w: r7 r( g
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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.
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( l# A5 d9 ^7 ^6 F: x9 UHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity . Z( z6 T" v* \3 D
8 j4 c! n0 M) |( W8 u, F- kMost 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 % v) O$ R# n0 B$ |1 |
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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%.
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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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