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BMO, Scotiabank join RBC in quietly reducing mortgage rates
7 d' O/ @2 F; d4 q6 G! [Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
. p. A2 T/ o# C9 dBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
( p. Q$ Y+ C. {, TNational 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. * c9 C& B5 O8 t# |+ {3 M$ d' t
D" P3 T; Y1 T) C- C/ a! }# @Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. & @3 A) U; F: l; l O
+ q4 i4 o# ~7 ]3 R1 K$ }7 h. }How factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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& a+ h5 V5 X# i; |6 j# h4 xMost 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 ! c8 m7 ^0 ~- F
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2 g' Y) K$ V0 u& r t* WFor 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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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. 9 t) W4 t* ]# f) P
' v, Q9 J5 D" i0 r% e v; ^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%.
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% E% U" q W3 E7 h$ NTD 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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