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BMO, Scotiabank join RBC in quietly reducing mortgage rates 1 Z$ m+ b) J( |5 k) m# N" l4 `& ^
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 7 r' d6 E" z g) [5 Y6 D8 r! J
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. * X7 U8 ^( d, q0 x# |: V% u
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. 2 u6 t' N0 N: S+ l4 Y3 i
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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* {+ N3 y" z- Z# q7 F+ ^# lBank 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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How factory-built homes are shedding their ‘cheap’ label and exploding in popularity 6 r% Y" ?: ?- D! y- D! k
9 {, F$ x: P' P& _1 v. lMost 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 2 y' {5 o2 q8 s
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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.
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& i* U8 k# V( i/ R/ a8 SBMO, 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%.
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TD 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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