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BMO, Scotiabank join RBC in quietly reducing mortgage rates ; o8 a$ g$ Z' b- D5 U4 I% k
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET - w6 k6 ]8 p7 D1 @/ h
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 3 A% }3 h7 b5 l" @ _- W
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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: w& E- I: w8 @! P6 u! |' U0 yTORONTO — 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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: }+ b% C$ _0 b7 `" ^% r( eHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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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 $ ~: O5 z: J! G
5 b8 P9 G1 ~( s% E, p: WContinue reading
W8 ~1 P" ] p: FFor 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. ! H1 q! s% i) g1 \* v
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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. 7 m8 K3 S2 c5 a% _; f/ h
: v+ l( Y* l5 M- y' iThe 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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$ }( S* P9 |! S- ~+ A' o- b1 `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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