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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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( T N( ]5 [) i9 Y% e0 p: eLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
. }; W l* v/ j+ w3 [4 z# [CBC News
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Mortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.0 k& ~ @4 ? Z5 a3 j
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RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.5 c) Y5 l7 x" T
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The posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.- _+ \- \ Y9 W5 K4 c6 L
) V" k# ?. u4 a1 R H' BOther banks are expected to follow with rate hikes of their own.
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Yields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
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, ]6 i5 T# k a, ]# I, a6 ?6 iThe yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
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2 R9 y! o6 g/ `4 b& ]! Y3 S6 ?/ _The posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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