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BMO, Scotiabank join RBC in quietly reducing mortgage rates
- @9 u9 s$ ?4 |6 u6 \# Y7 N0 dCanadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET 8 v* s* F% Y4 ^/ t' f
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
8 U$ {3 g) M8 ]# qNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % \9 r5 g4 q8 E L
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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* ?2 y; Q! D. R: WBank 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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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. V- [/ M8 @; w a
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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. + s" e* d% Y' y% e! E* M
9 d5 ~, Q) x* n- q3 i7 _+ {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%. ; Z2 N4 k1 Q: t8 ?
3 I& F) B2 Z3 V2 vTD 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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