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BMO, Scotiabank join RBC in quietly reducing mortgage rates ) O# W) s" Z' x8 T3 y2 s8 [7 |
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET / V3 _3 l* c) Q8 Q. {4 C, n4 }1 v
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
; l+ b } S( F+ v3 @. jNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 3 B$ S- o" X- H: e0 t
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. - P* U# \1 v2 M$ {
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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
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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. 2 c7 o& D: v4 \% R" 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. 7 q( _0 l, W' j% I7 C( D. ], H2 n
# r1 `$ k: W0 t; IThe 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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