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BMO, Scotiabank join RBC in quietly reducing mortgage rates
# B" _0 H4 S4 T" @" HCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
4 C6 ]; s) T! f7 I2 F' BBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
0 M# k: Y( ~) B; K8 u, Q0 vNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ( @! ^4 V( b J
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. H# Z. D% ]! v2 \ kTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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8 |0 K7 q5 G" h( F& H0 Q& KBank 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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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 5 U* w( r1 G! P. i( l
3 t2 _0 V4 X+ W# }: ~, l ]Continue reading - n/ d. ~3 f: _
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. # x0 L" [6 |# p8 x, b5 D8 c
4 F) D) A( c; j2 zBMO, 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%. 9 J, K' d( q! k, X3 Z
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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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