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RBC drops home mortgage rate' R, ^ N4 V) I% i- {. [) }/ H
Sep. 5, 2006. 12:45 PM7 S7 W* x4 W5 C3 d' J" y$ U
CANADIAN PRESS) d( e5 z$ Z, J# N5 `
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: v! h# u4 `' DRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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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.. ? X/ I0 s6 a$ \, { N: h
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At 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.
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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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