RBC drops home mortgage rate) j! v. K: {# T- {
Sep. 5, 2006. 12:45 PM " Y. x: {# |* l0 q/ gCANADIAN PRESS $ z/ @+ P( G( Q3 d1 ]/ o6 J& e 6 [9 o; [- s1 f1 K4 N( ^& z4 {6 F& Y# }' x1 D) ^8 X2 w" P
Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point. % L5 R( g1 Q+ h" Z ; W0 k& z& V3 D8 Q( D4 XCanada'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.7 d E V- d) B4 R9 V
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At 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./ O9 O4 V2 w( }: Y
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans.
Well, the rate is published rate, it just shows a trent! The rate you gave is discount rate. ' I2 K6 I+ Q0 _5 z# ?! {8 [1 u( @" i2 X" _% h; x) U
[ 本帖最后由 屯民 于 2006-9-5 20:31 编辑 ]
Mortgage rate went down is neutral for investors but good news for others. People can afford to buy larger houses or more people can buy houses, but there is a negtive side, the house price will go up too.
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发表于 2006-9-5 20:18
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