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BMO, Scotiabank join RBC in quietly reducing mortgage rates
* [/ H% m4 [1 Z* ~" |- A8 n6 Y1 `% _Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
5 h0 ]/ Q0 [% Q2 W; D* sBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * @1 b. p8 F9 ]. K4 f/ c. x8 @
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. # u. Z' R1 [8 @; \" p8 {9 e7 |
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+ a7 J% E h# U5 KTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. * @+ ]! v& ]; G0 z
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. }4 _1 S9 U' ?' ]1 R8 i5 w3 {
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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. $ U+ `& X5 X' u3 x- l* {
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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. G) O6 [ p3 E5 s, S. o: H
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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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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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