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BMO, Scotiabank join RBC in quietly reducing mortgage rates ( |% X" d: N. t; C
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ( k$ e. _9 G* u& L5 v
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
( \8 C" o- m3 }/ U& cNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 1 w* f2 l5 j$ l `0 w
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes.
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[' k" D$ ?3 O* w# h! @Most new homes are built stick by stick, brick by brick, by a construction crew on-site, but a growing number of Canadians are buying homes right off the factory floor to be assembled on the lot within days
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8 K# y: ~! }% q [, i, f; h8 MFor example, Scotiabank lowered its five-year closed fixed term mortgage 10 basis points to 3.49% on its website Tuesday, down from 3.59% posted on the site Monday. & w8 \" j. I2 t* E- Z2 A# E# @, `
' C7 A. \5 j6 {% ^5 {BMO, meanwhile, lowered a number of its rates between 10 and 20 basis points, including its posted five-year fixed rate to 3.69% from 3.89%, according to Ratehub.ca.
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' q [5 O1 c8 K! MThe changes, first reported by the Business in Canada website, follow a move on the weekend by RBC to quietly lower its rates on several fixed-rate mortgages by 10 basis points, bringing its five-year closed rate to 3.69%. / D0 p3 [0 M+ O- n) s* ~* s/ E7 M
8 S+ n7 c& a: z. p2 ]' \$ ZTD followed suit on Wednesday and now has a posted discounted rate of 3.69% for its five-year fixed mortgages, down from the rate of 3.79% that had been in effect since August. The bank has also made changes to several of its other closed rates. |
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