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RBC drops home mortgage rate
: z; ]7 e+ l. b1 K$ h5 Q- TSep. 5, 2006. 12:45 PM
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.) v9 D7 S( ?5 z# B% z' d! s8 C
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Canada'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.6 O% ]7 k- y6 n- }& A* f
& b' }* G9 A8 mAt 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.7 t/ o# ?2 k$ b/ A( V
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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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