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BMO, Scotiabank join RBC in quietly reducing mortgage rates . b8 d+ d- ^4 C! W) }
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET - ? X+ h. \- k. H
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. & P- l. {( i* v+ ~3 z0 ~
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 4 U. \8 E5 I! M5 b5 t* O/ n2 ]* B
4 w6 ~7 Z9 m$ c- _3 DHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days ) W H" |$ U6 s
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For example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday. : |4 U7 y9 Q& [0 P
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BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca.
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+ n% I+ }7 E0 dThe changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%. ; @. {* A) @7 ?
8 v2 ^1 g$ S/ E7 O9 n: YTD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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