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BMO, Scotiabank join RBC in quietly reducing mortgage rates + @9 `8 N. ~' w+ \
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
# [ c" O# G' f3 {2 B, t6 eBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * K6 w) Q8 i6 \1 O
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ; @2 Z7 O2 G/ F" i5 j" k, ~
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 0 e2 w* ]/ p# r# `
9 d7 d V7 E' v) z' TBank 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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3 Q0 S7 h. o4 J2 WHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity ! b' `' U2 ~+ {% P# ^, u9 P
6 I! b7 S0 Q- z$ j5 K' S5 M# nMost 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 & t! Z, D5 r6 b
1 y) @6 X2 [" }2 I- \$ BContinue reading 8 m% D1 c6 V. i$ A! D- {
For 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. + k9 K: \' q7 V
5 m: }* B9 V; D9 p3 dThe 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%. 7 `" q) C2 A! J5 ?4 P3 I7 e
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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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