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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html+ y* _9 P9 y r6 d$ Y2 s/ T
( n5 U% ^8 P3 r+ q- {Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET
; K% |; I) C" YCBC News* ^/ V0 ^/ n+ a! o0 A+ N3 B
# M* T* \8 J1 U( c. j4 _/ JMortgage 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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# ^8 F3 J% v& [7 @+ URBC 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.5 A2 ` Z* _& ~4 e
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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.
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u. J1 z2 z4 [2 c; P( qOther banks are expected to follow with rate hikes of their own.6 O9 e, i( C p
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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.
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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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v+ ?7 q7 o) D0 h) RThe 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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