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BMO, Scotiabank join RBC in quietly reducing mortgage rates
$ K: {. t9 g/ [- e! ?Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 1 ^3 P8 R! O: J0 M# z3 w' Y- y, d
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
' W6 t0 c( `3 o h, @) G9 lNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. $ g) ?5 P& v0 x' X
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7 D3 {/ Q: i& K- z# T8 YTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. : I; h, R& w3 W* l7 X
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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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; T. U6 L1 m8 s9 m5 Z: ~) L3 W1 f0 r4 uFor 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. : T% W+ B) S& b( Z, g2 c
3 Y8 N6 F# \% tBMO, 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%. 8 ?" G$ z+ |3 \+ \" i
% B) f: Z7 T1 H& V) }; @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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