 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html# _. G9 T/ X2 P& X a
& J3 f1 A8 S8 pLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
0 k& |; n4 r4 B. B9 v+ W- cCBC News
9 ~$ f& g# D2 u/ ~+ [* x
5 B; w4 b7 e0 T* [+ 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.2 u) [' \& I7 i/ s! v+ [, h, `' \6 ]
+ c$ o h, K- _, r7 XRBC 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.
1 \7 b4 d9 n4 B, K4 w. \9 Z: L, A* z4 w7 k1 B
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.
/ W$ I3 J5 L7 ?5 d. |$ g" U7 w% P. J4 G: q- X+ ^2 q" h1 c, i. A( ^
Other banks are expected to follow with rate hikes of their own.5 Q. z1 G" j/ O0 G
. k/ v2 x/ v& V
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.0 }9 ^) j( F# N! p0 L* z
% G" A/ `: s5 I/ `- v. E rThe 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. 4 i5 s) o# M. C; L
+ f: C/ o5 i( X, r2 WThe 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. |
|