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BMO, Scotiabank join RBC in quietly reducing mortgage rates - |8 B Y- f9 j1 m+ [! a( j9 h
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
4 q1 l' |- {9 A! H$ wBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 2 G. j, y; [0 q. p3 h$ G
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * e L' T# K. v/ ?' h$ D( C
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9 x0 x4 b! X0 {) QTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. : p4 k9 M C$ C
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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. 3 x( C# V( N6 v ]
9 d' O. C R" dHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity - M) x& Z j0 i4 d/ F
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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 " N+ z% A0 G. z2 @: O
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0 T# D, b* z! I1 \/ Z" Q9 tFor 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. - \1 P& H8 A9 Q4 r
9 |: t9 c; R& D' 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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9 N+ {) f P+ I; iTD 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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