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RBC drops home mortgage rate
) c! @. t& C5 T0 i8 \Sep. 5, 2006. 12:45 PM" x- B0 V- T. w! b# H. G- p
CANADIAN PRESS
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% g" }* Q- R! gRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.; I6 v) i3 w7 k5 X/ J3 _
( R9 F q1 t/ x% S& X0 FCanada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.
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At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.2 y+ W q5 Q( `# g) ?+ ^
" z/ e4 h& `4 L! E! \The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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