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BMO, Scotiabank join RBC in quietly reducing mortgage rates
; e/ Y, N! v8 }/ L* [5 xCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
. Y [ W9 x9 P4 B3 @" hBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
r6 y; v8 E; [% hNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 2 M1 J" [" S0 W& y) i+ h
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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. 3 l2 |" S" P, I3 L4 T" Z
6 P7 W! ?6 p9 V, M: B: WHow factory-built homes are shedding their ‘cheap’ label and exploding in popularity
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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 * w$ s6 g/ n2 f
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# A$ V4 Q9 F5 H8 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. # s+ `' Z% @- x H( ~8 a* r
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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. % _1 m7 N0 Z9 c% K
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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%.
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5 a7 g$ w/ X8 X8 G; q2 ATD 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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