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BMO, Scotiabank join RBC in quietly reducing mortgage rates 8 V. C; D4 y. v- W& s
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET J' V) Q6 m6 c, q J
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
. @8 C. P$ B0 d( H5 R2 P( DNational 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. - }6 ^. V) k: _
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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. - ` J2 H, o. k6 a/ l! s1 j
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- E `2 U: x/ L( 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. - E- d! q. Q2 Q! G9 T
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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. + B$ a# n; C% r- n0 V' N9 ^7 f
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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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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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