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BMO, Scotiabank join RBC in quietly reducing mortgage rates % j; D* |! a! ^0 B" @- Q
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
) M5 l$ L! L4 \: L/ Q2 D, VBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
4 x4 z7 p, n5 V1 }/ S) yNational 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. ' P- b1 K- v5 e; ?; P3 B+ 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.
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$ o( c% v3 P/ j# ]5 eMost 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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8 B7 {9 c+ [, S) g; n" Q* TFor 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 `$ _% O3 @+ l( M e% g# ZBMO, 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. 0 \/ g+ N( \1 w! d: z) H3 d
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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%. , g Z ~* J: n# b8 ~
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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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