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BMO, Scotiabank join RBC in quietly reducing mortgage rates
$ D) [6 O4 q1 Y1 }$ @9 k1 ICanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET , j! J( x7 t S& L+ v L; g
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. - J* |2 [- c- S' x# |7 {) @# R
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. , [* W, ^7 g( G5 w* z
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. $ K/ L! K8 S' p/ X! L; A0 q
; {+ X# l+ Y: H7 @Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 6 Q6 |. a. N1 @4 R
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity ( ], b# Y: T' p
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Most 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.
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7 ]0 H# U# B% `/ ^7 u& ^% ~2 pBMO, 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. : v* r) D6 q) |7 R2 _
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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%. $ p, B8 `( V! ^& J( Q
2 q+ e1 j, c8 ^/ zTD 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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