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BMO, Scotiabank join RBC in quietly reducing mortgage rates 5 B- l/ ^6 l9 D9 _0 l* {
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET + o9 I" }) P K" n" [' Z6 z5 \
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % N9 E- C+ e6 J8 X
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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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 1 V2 @" p6 G' d9 {% ~% e) B
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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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: s0 t4 a% l* f) n2 V/ f2 \How factory-built homes are shedding their ‘cheap’ label and exploding in popularity " o E+ v3 k" _9 O
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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 ' S! n$ c' h+ b9 ^
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' d g% B' G9 o: X3 sFor 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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. l6 e b& v7 Z9 aBMO, 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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- B& c( v% x/ R# R& s6 ]3 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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( Q# _4 H# V9 r& o% Q: I" dTD 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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