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BMO, Scotiabank join RBC in quietly reducing mortgage rates 1 J" ]4 k4 H0 W9 W6 `5 K/ G
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
) i4 B Q6 P1 _4 E" _; hBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
- g$ v! Y7 C: b+ j q8 xNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
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# Y9 Z4 }# q7 ^8 h, U' BTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 7 ]) v7 s% {/ I
1 R, k5 z: I% [3 M7 {5 fBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. : y5 D9 B- J1 D
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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity : ^/ G3 O) y* g1 ?
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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 : ^6 A6 {9 O/ g: d4 V
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) {, P' h1 ^# q- GFor 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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3 }" S- u' W+ g8 t6 tBMO, 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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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%. " ?& W! y$ l. w1 R
9 t2 s' ?8 q: p4 o* A' Q( j3 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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