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BMO, Scotiabank join RBC in quietly reducing mortgage rates
1 m" _0 [- G# [2 mCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
3 ]7 \, @3 Z6 r5 B! e) YBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. + v- \! ?6 ^' g- F
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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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. $ D F3 y7 g$ H' @% a" w1 O
9 X. u" ~# k& o& EHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity 7 _) L5 ]( |' M6 h d
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Most 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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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. 8 J( t1 q# V( m* o" M/ g
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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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! [0 j3 t$ v5 l* dThe 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%. ) X; w1 R% w# U, i+ ~/ G4 [/ V' M
. B$ p* D8 g HTD 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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