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RBC drops home mortgage rate+ e, A' D1 j8 q, L
Sep. 5, 2006. 12:45 PM. t9 }1 p; [3 W, n8 t
CANADIAN PRESS* K5 `. c( p B( Q) E
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday., @6 s- |& z" Y% l1 D# H
/ T" l& M9 {4 R% R% P/ kAt the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.
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' w5 C( ^- C& s2 b3 iThe cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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