 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
) w9 v0 `2 G, D& C3 p& w% W; {. h1 V0 Y! Z6 r, P4 i' y( }, R7 a3 B* q
Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET: Q b' b! K% t$ o' Z" Y- w2 z
CBC News/ \2 F( `3 O3 X- }- i
5 N) K) R+ B, v BMortgage 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.7 _! h: R# ?! C, I- D. l
. ]' B2 c- z2 U9 ^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.% X$ z% d9 W7 Y) q0 x) a( f
@' O! [ F! u
The 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.6 G5 `- s W- h& r# ]
2 e% S% ]1 Y) V- n5 n' V& G1 v. Q
Other banks are expected to follow with rate hikes of their own.2 h1 `( }$ b* |+ G# ]" L2 j7 [
{( e8 @- \2 q3 ~* w
Yields 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.) j6 H1 C# W- J3 T
/ g6 I! H( _7 y/ BThe 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. 1 _" o9 R) P& p2 w
, ~/ {0 z) Z: t! [( ~
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. |
|