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BMO, Scotiabank join RBC in quietly reducing mortgage rates 9 |& q4 O0 k& J; v
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
( T) C$ {; n0 {4 X. g4 ABank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 6 P n0 E v9 s( h5 D7 _
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. / h1 G8 \5 }/ l# q: ^ x
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3 D3 p) o+ A2 I" GTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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: i5 U# [) a a: \6 |1 D& m3 mBank 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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; r' l- Q0 a5 |, NHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity " [- X! c0 U! h( o+ Y" {
0 Q) v0 y, R& N2 K9 W$ rMost 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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3 m9 v' t1 n. Z g# @" LContinue reading
* h6 f0 |' E9 F+ PFor 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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% X) N1 m& | P6 P& u7 IBMO, 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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( q6 l F, R8 s6 I9 z# w8 d( xThe 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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