 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html' e4 o( d) k) t4 O
( E* u$ q. q V1 A+ T9 V) ]
Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET2 w# V* z- |5 V: m& w6 ?' `
CBC News
1 [- A* F% _3 i8 R3 F, v4 Y: N" p% q! W/ X3 p6 \! x
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.+ }) m$ Q/ N9 ^+ Z* I; r* Y C
$ N( k4 M _5 S } r& LRBC 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.' E( B- t6 F9 k p
* e& S- ]. k: c
The 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.; [2 _ P1 H. A5 a8 i7 Q; Z
. h! A, k8 t5 L! \2 I' w% _Other banks are expected to follow with rate hikes of their own.! u+ D. N P1 q9 T, f0 H
- j: W* a+ W# a/ |% ^9 w vYields 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.
* ^2 T. B; F1 e6 Z& M, t
6 D- f: `% Y! JThe 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.
) P8 D; h3 R/ ^$ T4 z# U" r# w7 w, p% L& S7 ^
The 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. |
|