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BMO, Scotiabank join RBC in quietly reducing mortgage rates $ b- P t+ ^0 ~; j" }0 d
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET . s: t) _) E/ N; o
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
% j0 B: c' c' zNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * z3 j# ^$ q1 x; p: ]
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. - x( V# K+ U. j
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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. 2 L' \% Y7 F5 H. r4 l7 M) j
. ~/ @3 o* `8 \How factory-built homes are shedding their ‘cheap’ label and exploding in popularity ) Q' l4 j. J. x8 ~2 Z
2 Z4 p# ?. z; B1 w* k9 jMost 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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' m) A, J% F+ M$ JFor 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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3 a! z: @' Q8 m1 g8 I# DBMO, 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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