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RBC drops home mortgage rate; S3 q6 J! Y: E) ^5 v3 [
Sep. 5, 2006. 12:45 PM
# F; k! c+ F% ^2 J. SCANADIAN PRESS
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4 |- D" e+ P8 @. ?Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.. z* N1 x& v* r" E3 N
0 s1 ~2 b, c6 N, ]2 s1 E8 {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.
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/ q6 h+ L( O$ H0 B- e1 B/ k: MAt 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.2 c u) f1 h$ Z7 v; @
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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