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RBC drops home mortgage rate
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CANADIAN PRESS7 O2 u+ I! _$ w3 \* B7 v7 ]- W$ w4 \
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point./ H6 s8 E& H6 o P; l
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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.7 Q, N$ \, q; \$ J$ q
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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.
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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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