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BMO, Scotiabank join RBC in quietly reducing mortgage rates
8 E+ g `* {2 r& m( `Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ( X/ c! a3 X5 M4 L
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
( N1 o. A9 t& H! i! M3 f/ X4 ]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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# A0 A. N6 F, YTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. $ J7 m p. ~* U+ C6 C4 e
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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.
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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. ) Y+ M: s4 B9 E4 M
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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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|+ i3 P, |+ x; M6 _/ BThe 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%. 1 F6 i- X; L+ n8 ^9 f" G+ E% C
- ?; |/ | G" }2 F; \7 {& QTD 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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