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BMO, Scotiabank join RBC in quietly reducing mortgage rates
8 D5 K! r2 X. F X7 }Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET ( ^1 Y# h( L: R9 F/ a* P
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
5 S2 l3 M5 ~0 H# t+ P6 |0 e) V& ?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. % u @; A1 [9 Y g5 O7 i' G
7 n0 o$ O. g/ N- M' k4 [% yBank 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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0 s3 w, ]* T Q: N$ c* Y9 ^How factory-built homes are shedding their ‘cheap’ label and exploding in popularity 4 @, v( m0 Q& H
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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. ! _- A, B2 q" l! K' E
/ H, s( B8 Z( h' q3 g6 X9 Z7 OBMO, 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. # Q. J9 ^4 p7 r$ f' H
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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%.
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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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