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BMO, Scotiabank join RBC in quietly reducing mortgage rates
( Z# n: o4 y RCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
5 I: a6 Y' b- M* W7 GBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 5 V7 t4 C9 O6 \ {4 c- h" A* {/ Y$ t
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * b1 m1 H' o6 s: i/ K6 s& U5 }
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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% M7 q0 G, w7 b) M6 M! dBank 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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& F/ w/ `$ z; ^2 H s! bFor 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.
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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%.
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0 n6 v/ L8 C/ D* i8 eTD 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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