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Mortgage rates rise again: Wed Jun 13, 2:13 PM5 h* I+ J8 k8 j8 [% J1 C
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TORONTO (CP) - Residential mortgage rates are moving upward again as bond-market yields bounce around five-year highs. " E# H* b1 {! u6 ?& m2 K' A6 a# |
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The Royal Bank of Canada (TSX: RY.TO) said Wednesday it is raising posted rates by between 0.05 and 0.20 percentage point, depending on the term. Effective Thursday, the five-year closed rate goes up 0.15 point to 7.44 per cent.
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It's the fourth rise in less a month during a series of increases taking the five-year rate up by 0.85 point, from 6.59 per cent on May 17. The other chartered banks have in recent weeks followed the lead of RBC.
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The upward trend reflects a slump in prices and rise in yields in the international bond market where banks get their funds for mortgage lending, as central banks in most major economies have either raised interest rates or indicated they expect to, in order to contain inflation. |
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发表于 2007-6-13 13:13
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