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BMO, Scotiabank join RBC in quietly reducing mortgage rates 2 q4 Q* n& a' C1 [8 {4 Q8 t
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET " O6 @, U+ Y1 ~' g4 X5 L$ O! q
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % H7 f! B, b$ u2 H! d
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. 5 \. p( f. J! i; c6 ^7 t! N- D
K( O& \$ p% ]2 W: v. xBank 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 ( x9 @4 E5 i/ Q0 @
h8 K1 F( m l7 v2 ?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
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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. # l- u6 x* ~8 z5 P
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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. / w9 ?4 Q6 y" h( U
% \% U3 [% X: I/ I' r& F, |+ wThe 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%. & ~+ ~% @3 L4 }7 l6 a9 S
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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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