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BMO, Scotiabank join RBC in quietly reducing mortgage rates
# g5 W `" ? ]8 B& SCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
. L' z( @/ R1 e: eBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. / L9 ], n1 q( s U9 a
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * H* t; W7 _& ]. d& z- e2 U
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2 b5 o, ^2 H/ l$ V e, l! t* jTORONTO — 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.
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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.
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C! J( ]7 @# ` f: a W0 {. ?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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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%. . K8 n# W5 c9 s" @; t V
9 a; Q& Q% Y- cTD 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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