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BMO, Scotiabank join RBC in quietly reducing mortgage rates ; G6 W$ u! I4 ?) M; m4 J; H
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
4 B5 p( [( \. a7 ~ s' FBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
$ j0 R" ^+ x; `, _: X- P0 m0 W; nNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 3 W% r, W% v3 f+ d) I# t: s
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]! O+ t" v/ a/ I% zTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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! k! g7 x3 ~6 BBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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& q( a3 h4 n4 ZHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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4 H( W O0 w0 ~; T! @% d! p/ QMost new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days
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For example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday. 0 w% G! `9 F) l1 [' x
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BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca. + T$ c( E6 N' A" \# T3 ^8 U# @) o
; j v2 l1 y# h+ K2 S# fThe changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%. 8 _" Y% N3 ^, o$ e h
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TD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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