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BMO, Scotiabank join RBC in quietly reducing mortgage rates ! x2 B c; o5 Q! F2 E: l7 n
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET + o$ X1 H5 u- _' m4 c3 G
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
2 f( A+ c6 U8 B) QNational 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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9 u* k4 h$ i7 GTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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! c4 _; V, p0 vBank 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
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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 ; m$ M0 ^5 c* u3 `: \9 `0 Q) _
/ t X6 U3 a9 A+ ~2 W( hContinue reading * X; [+ @- A" @4 E& ?- Z/ a1 H
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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) b X b& T6 S* W+ c7 MBMO, 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. ! T% m, ]* |' X x4 y4 ]
# ~5 k3 Z e1 r6 @: `( i" v0 GThe 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%. 8 @6 G0 m9 c9 b
, b" m* G, B8 V% M3 k" eTD 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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