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BMO, Scotiabank join RBC in quietly reducing mortgage rates
' W' S0 c$ y* ^3 }3 g* mCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
W) z" T* a U/ D& tBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 4 t; J" }- d+ ?( d! w7 W1 p% k
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. + _& A+ r+ m" U. a1 D: [- f
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/ i2 [3 X: Q( XTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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( `- V$ V+ L: f7 B7 @, G% M |Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 4 F. v& S. g$ H6 _9 D u7 w" T
, a5 v3 | e- {5 G4 LHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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! y y: T5 F" LMost 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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) J* ?- Q6 n* m; i5 ]& ?" iContinue reading 4 e8 w. u+ n& v* J7 k
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 x: z" f; D7 \
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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. : {- B( J( c* s) c& k w
9 |) ]9 ^0 i$ M7 TThe 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%. 7 X% K W i1 ~* D/ L; ~
0 }2 [" v! k! N! F% 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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