RBC drops home mortgage rate4 K s% y" O9 P! `( N
Sep. 5, 2006. 12:45 PM6 z# d v' ^! V/ X) h% b# W
CANADIAN PRESS 9 i4 _- R; V! k# z1 G6 |0 ] 9 u/ j) R% L7 J( N' |3 X5 C) T8 O( H% w4 E# z3 Y5 q6 b) x" ?
Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point. G/ B# s1 w* E- z0 n! {5 Y+ \# }4 r) w8 ^
Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.7 Q7 n8 r! ~+ ?7 _
- ]. N* S/ g3 W) D' OAt the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.7 {0 a9 f6 e7 |
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans.
Well, the rate is published rate, it just shows a trent! The rate you gave is discount rate. & [( Q7 N1 F' x3 J# O# C/ s( [5 g4 T0 u( a# [! r
[ 本帖最后由 屯民 于 2006-9-5 20:31 编辑 ]
Mortgage rate went down is neutral for investors but good news for others. People can afford to buy larger houses or more people can buy houses, but there is a negtive side, the house price will go up too.
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发表于 2006-9-5 20:18
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