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BMO, Scotiabank join RBC in quietly reducing mortgage rates
) r7 C8 d* ~: O2 e$ P1 L9 {Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ; t' G8 ] ] G9 _) T" h
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 0 { ?6 f g, [. F# D! O
National 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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- w; i7 r, A W5 d: {7 T- L8 zTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 5 `' ^% @& |# `% Q0 \. [
( e. t4 F T! n5 i! K- oBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 4 H5 N( g! F& O, W$ A0 a5 _0 C
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# e& S) L7 W4 l8 ]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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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$ P* g$ O8 p6 I5 l$ 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%. 1 M2 f0 R9 p$ r) r+ v' s- S
' ^9 D+ P& ]6 ]& d8 c( jTD 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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