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BMO, Scotiabank join RBC in quietly reducing mortgage rates 2 v0 T; i1 i' P6 X, r
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET : w+ S+ C2 @6 V5 o7 M
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * g" U2 `) k- E0 A) \4 ~
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. , H' w" v6 P9 q- q9 l& {! Y0 H8 O
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3 U. p& R, O \9 aTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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- v8 G6 M" H' r& a% Z" tBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 1 W- K% i% |, B5 S; I/ [/ \
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity , K# a5 x9 `: Y0 l) C+ Z+ 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 - Y6 c% \+ q3 t: b* a( u$ |: h
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3 U' E1 h1 I. G3 ~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. 9 U( P: w& z2 q- O0 L& g5 x
4 v& O0 V& B6 M. qBMO, 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. ' E* C, I- D3 t# k
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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%. 6 C* h$ b: H; N5 x
* ^/ F0 C$ ?. @& a" s8 O7 B' FTD 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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