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BMO, Scotiabank join RBC in quietly reducing mortgage rates
0 y8 h; D( S1 H, U% ICanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 9 g% \* T* \2 s8 T s7 _
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
, O' R! O, ]0 E1 i: q4 L7 yNational 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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# p; o& l ? J) I8 W8 ^+ nTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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. v5 l' I2 e3 Z a4 L4 IBank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 9 @! @! O! C* U8 S5 X
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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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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. & n. f8 P2 @1 [2 x5 n3 v1 S
; r) r/ A5 G' v- sThe 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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% K9 U, m8 H' R! j8 M6 P/ oTD 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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