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BMO, Scotiabank join RBC in quietly reducing mortgage rates % U0 E, G8 {1 n$ T, B6 t
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ! E' u N% a. ]! s$ b
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 4 U( U! G$ K( F$ M
National 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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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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4 n; I$ q7 g& {/ S5 jBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. + f8 {' I; L3 c$ j
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For 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. : o' F! ~- a2 O; p& E/ x( J
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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.
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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%. / z) c/ K! [* c0 i. t5 a
5 `8 R6 a* @; P2 U2 h. V# Z+ 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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