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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html- G9 X3 L2 G8 x( W; ]9 t
3 N" R. {# u7 O# S g4 {Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET+ d8 c, H4 Q9 R& C: i* w0 I* G$ S$ k
CBC News
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0 n9 _7 c, w- ]4 A3 O; w2 m- eMortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.2 ~0 i- r* j/ u3 f! c2 {/ X9 [3 k
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RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.) E o$ o3 b1 [& h# ]
! e; R8 ]. M* ]/ q- O. J" cThe posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.
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Other banks are expected to follow with rate hikes of their own.4 K+ ^7 d p( q8 a9 s
; S, U# g5 e3 X& VYields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
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' L; l4 W2 j7 W+ D* aThe yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
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The posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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