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BMO, Scotiabank join RBC in quietly reducing mortgage rates
; j. Z; R: J* p, j( O" pCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
* I& B* A3 j3 \( K& @5 Z9 ` CBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
0 K, r+ Z1 I+ d) C+ PNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 2 u0 p) C; b5 {2 Y
1 ]2 J8 I! `3 }% ABank 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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% H% a' z6 s0 }' ]2 H2 ~2 }; h2 MFor 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.
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" f# v$ m6 j& u( ^" kBMO, 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.
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The 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%.
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) v! j# w8 w7 W' @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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