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BMO, Scotiabank join RBC in quietly reducing mortgage rates : S- ?4 ]$ `. a: ?. b* _
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 2 R! m1 V0 K& R6 _% E0 Z
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 4 S/ E0 t+ g. [( v/ d' o) F- \
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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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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. z" y: n. g& r/ C2 T- ?4 S: fBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. , U; e9 h3 \- R! a8 @# w
9 c9 R$ |/ X9 \& U7 e" cHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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- k+ H n: ?5 m% d; [2 k* p0 fMost 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 $ |: T# n/ n ~0 }0 {
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* _ y1 G4 ?8 ]" K; N* mFor 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. 7 d# a) M) A4 F" L2 H
- J# j1 v" c/ e3 s8 n# ABMO, 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. S: j: P' y# p3 L. D
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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%. ; [1 a! j, D# `1 E
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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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