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RBC drops home mortgage rate4 W- R8 }( e. l# \+ e
Sep. 5, 2006. 12:45 PM
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8 D" z* F/ m. a" v" `/ HRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.- Q( G" h# X0 G
# b! R, b. _; e/ sCanada'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.
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+ o$ w: c3 `( K y, k. m% f6 e/ yAt 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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The 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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