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BMO, Scotiabank join RBC in quietly reducing mortgage rates 7 t, a1 x) l# n7 A, A V
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ; r+ W5 i$ e1 [$ d* ]% p
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
3 l. Y8 E5 e9 l% ^2 m6 s2 T8 c" [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.
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/ {) ~* u: }- V( |, c( qBank 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 $ r2 R/ q K* G4 p8 D1 b
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0 G: r+ G b2 I3 ?( g& lFor 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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+ C* a2 u$ }) W" bBMO, 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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6 ]2 n5 J6 P" Z6 _0 e4 q# Y" UThe 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%. . J/ {% `6 B3 G5 X0 e+ U) \
8 W3 ?8 u: p6 U4 zTD 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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