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BMO, Scotiabank join RBC in quietly reducing mortgage rates / `# Z& {. R K' y" ?5 a
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
2 @6 I" U7 F( \( u% WBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. # O; e: m4 Z& |! Q
National PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. % E3 m4 m0 J5 D+ {7 x
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% g# Y+ W- y/ `( P e1 YTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 4 @, J% O' F! k! H- b
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Bank 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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+ p& \8 ]3 m5 p' W7 z/ Z, mHow 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 * b+ U- R( a# y" i& Z! d
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+ \1 V6 t+ \# D8 Z% L8 }* OFor 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. ) \4 ?3 _2 M8 w' T" X' I* I/ [9 ~, v
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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.
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7 M; ?: I! g: M) \, cThe 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%. 7 a* \5 I, X* m6 |) l' E/ O9 `
7 v0 |) N3 P% iTD 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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