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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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7 A/ l& @6 g9 v. P9 d, b# J+ rLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
2 X; t% ?; l3 U/ [. XCBC News( W l# s2 @5 F$ ^8 e ?5 @7 i
5 \1 Q+ `1 {/ v2 C' }8 rMortgage 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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RBC 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.
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1 N! t/ `; @4 jThe 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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( e/ T( f% O5 \Other banks are expected to follow with rate hikes of their own.* C. i6 y" f d2 q% @- l4 K! E
8 m# F' U( M. x. K/ }7 IYields 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.
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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. ; w+ P, y5 c, q7 _) P/ \, G
& M5 z% x2 N$ h* iThe 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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