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BMO, Scotiabank join RBC in quietly reducing mortgage rates 2 P- c/ ?5 u( @& ]" d
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ' e+ \ \# n% ]9 y
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
1 t+ k- }. `' L9 P+ T, fNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 2 m. Z; o* q( R3 i/ V# h K
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& D& N( k( k9 k; qTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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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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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity - A/ t5 `) }: a7 a4 f' C7 m
8 x3 J/ G' e1 K) x% mMost 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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/ o! J& H) W; {) ZFor 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. ! r( u$ U8 y- s/ t$ L
; u3 b: C7 N$ CBMO, 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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9 R E0 } ^$ B. b3 O* u! yThe 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%. # E" g) W& e7 d% \) j* n
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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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