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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html Q9 n* y- p6 R% x, z+ `, i2 j* w
4 f# O+ B2 G9 s; ~& NLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
2 d! W" X2 O2 O' p- |. y( E( kCBC News$ A! l6 C/ e3 [! P4 S
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Mortgage 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.
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% ^" j2 v& o4 p8 e0 f+ i2 sRBC 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." Y. d- d/ ?$ d& j
0 F) V& v* c( i; h( OThe 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.
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^9 Z. z8 H% I. FOther banks are expected to follow with rate hikes of their own., s A% Z7 ~1 Y" x( F
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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.0 \2 g, Y2 c" w% a
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The 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.
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6 [# i% i/ F/ F5 |9 ~5 Q1 qThe 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. |
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