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BMO, Scotiabank join RBC in quietly reducing mortgage rates 8 j: t, n/ u- g$ u& N; o
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
- F/ }9 f" A- O( \# w. rBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 5 J, l9 A ?; k" l6 C1 c
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. / W: U) s' }% X: r7 t
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. * L- q, ~- _& z: ? p$ w, |
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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. 9 Z' J* }; {! S9 c, M Q: V+ c* x
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% M" P8 T; b Q4 F6 BMost 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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6 w- e* q: N3 ]& v cFor 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.
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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. ( P. l- i1 C0 v3 }& a
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The 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%. 3 e' Z2 ?3 m( [6 \
8 c- k u2 v' M6 x2 DTD 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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