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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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( c& r5 C# m7 Q$ V1 y! q; P% zLast Updated: Tuesday, May 29, 2007 | 4:28 PM ET
: }0 G: _. t% K" VCBC News0 T9 v, v f+ |4 }
5 h5 o$ c0 c1 M$ M# q! q( \3 V" pMortgage 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.: h7 q+ V* e; G" P/ J$ c) U" L
; m) K2 u. p ]; k5 p: o* rRBC 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.
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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.( s: T1 ]. P6 h; A
1 {" K8 {4 z& c& ?) \1 kOther banks are expected to follow with rate hikes of their own.* f2 A$ Y4 k i/ j
8 {4 B/ `/ N' a3 AYields 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.6 A; x7 S+ D" V" G: q8 _8 U
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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. 9 v9 s. r3 U+ y. [: K; s6 n, ^
( j" T7 \! j0 J& dThe 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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