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BMO, Scotiabank join RBC in quietly reducing mortgage rates 9 B- V- K' n$ [; ?
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
" k3 a' y7 }) BBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ! x/ Z2 E/ k6 I) ]4 [( c c
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ' D$ C8 P4 A h+ P b$ l
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( }: j7 h) S$ s* s8 I( fTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 8 R+ P3 C8 k5 J8 D0 G3 E
: |- P: v2 l1 S/ |Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. # u/ v' h3 O" r% {0 P, X
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% A% Y o; t* P' CFor 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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: u: P- | v! \, s6 r2 @* CBMO, 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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# R3 F4 {- l6 |* f5 aThe 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%. 9 ]! h! q5 o! K$ m N
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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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