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BMO, Scotiabank join RBC in quietly reducing mortgage rates
/ @/ Z% o+ N, J- FCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 4 k9 H+ b4 x; g; Q- A; K7 A
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 4 N. |! ?/ E0 I
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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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 3 ^( f: Y- ?, _! Z+ R
7 f( j4 N$ @, R' u% N |How factory-built homes are shedding their ‘cheap’ label and exploding in popularity , z5 C% i: q1 {/ v; M$ Q
" A! K" _ `: C9 UMost 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
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3 {7 Z y- h6 {- q+ G; K/ D, IFor 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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* I$ \) F- {0 v* LBMO, 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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, a" ?$ S+ [# Y4 k/ Z% 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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# G+ @: ?9 \7 _3 U( A2 c- m f; P. aTD 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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