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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html/ U% c6 H: e! s9 G6 ]
. x# k* a9 Q) i* v q8 cLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
! f4 a% g. d2 Y4 |1 ]* Z1 I' j2 SCBC 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.
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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.* u+ J. e& r+ R# u. G: O
: p4 T3 U! C9 Z% A* WThe 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.& G7 L7 i b2 [, R' Q4 @
/ O- R6 F$ r8 hOther banks are expected to follow with rate hikes of their own.. p1 Z6 |9 [4 p
; I1 C% {" m8 O" x9 |8 ]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.! F7 D' S9 a, U) e- s7 W
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The 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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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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