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BMO, Scotiabank join RBC in quietly reducing mortgage rates
0 u: X( W* o, h9 N& wCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 6 [' e& }, r9 s+ m) l! V% v4 A
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
( Z" V. ]/ H" ?: Q5 mNational 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. 5 x1 Z1 B& i7 ~- k6 l
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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. + E! H9 ^2 F. g! J
% x4 j) N* `, Z* Q, `How factory-built homes are shedding their ‘cheap’ label and exploding in popularity - g/ H: r6 J/ A) b$ {
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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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- r: R. k0 P% G% [+ J& a; f* hFor 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. 9 g& Z; h8 c6 I& m5 n
, w7 t; m L/ ]5 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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& _6 v1 W" j% T! y" `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%. . ]% t3 ^( I" Y, w7 A8 g# s
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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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