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RBC drops home mortgage rate7 ~6 J+ F9 n3 {. Y1 \7 Y- c9 d
Sep. 5, 2006. 12:45 PM1 K+ N8 |* G& r3 f' S! b# g% i
CANADIAN PRESS/ k# q6 F L4 G# f# p) N- W
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.1 s- \2 [1 ]5 H( `' Z0 @) d
/ n9 _# Q$ |; T4 V2 C! ECanada'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.; y' c' n2 `$ @, B( l; |* ~
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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.
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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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