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BMO, Scotiabank join RBC in quietly reducing mortgage rates
# R# z9 _ M1 g* {9 WCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 2 a6 \* V1 `$ G
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
* d3 O5 R, c8 e* dNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 8 T% e0 L% ?6 ~5 P2 ~; E3 t6 j$ R
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. & r9 v7 ~+ N5 @+ C
. N8 }! E# T- d) F! ]6 P3 i6 QBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 7 A1 D5 a- W4 u- r1 F! M
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2 h4 k4 k$ b0 m iFor 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. ) t+ f( n; H4 O
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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. , {6 N7 W0 L5 y
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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%. " G ]2 y) ?; u% H1 o/ J( 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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