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BMO, Scotiabank join RBC in quietly reducing mortgage rates 2 {6 L1 f# L/ V, ]
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
& b5 V( v" G% [ c: @' \( nBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
* O- Q# }( r" G- _* M+ WNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % z4 e! w: {0 G/ s ^
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8 p! B5 g( [; U U. `9 vTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. # A( v; t3 p/ I* m" R
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity # u( r- O5 R" {) ?* t
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Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days 1 Y3 N% a8 T* L. M4 ?1 ^2 D x
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. Y8 K5 d5 k b/ [$ W5 {; V) XFor example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday.
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BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca. , ]! Q. \) K, I2 h/ e6 s
9 T# j- ]% a; }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%. . N. Y% {4 Z- `6 u7 d
+ ^: U. i- S, _6 K( T [! XTD 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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