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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html$ N) c9 U; e, B* E& \& u& f1 Q
7 ~& ?1 v0 t. m8 c( |Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET) a$ M9 q7 L; X/ w
CBC News' W( K4 V& O$ n' N) _" u0 x! f, q
4 i* ^1 W& ~) b3 O" C2 oMortgage rates went up Tuesday for the second time in two weeks as the Bank of Canada sent a strong signal that borrowed money is about to get more expensive.
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RBC Royal Bank, TD Canada Trust, BMO Bank of Montreal and CIBC have all raised mortgage rates by up to three-tenths of a percentage point, effective Wednesday.
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The posted rate for a five-year closed mortgage is now 7.14 per cent. The banks had boosted the rate for the five-year term to 6.84 per cent less than two weeks ago.- N4 p5 d- z% R1 D T! I
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Other banks are expected to follow with rate hikes of their own.
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; m) Z1 b% @7 a4 h4 o1 o5 T. u HYields in the bond market, where mortgage financing is determined, jumped Tuesday after the Bank of Canada delivered a strong hint that it may boost interest rates soon — and perhaps more than once this year — to fight inflation.
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: V: }9 k+ ~: q! l" |' FThe yield on the benchmark two-year Government of Canada bond jumped more than a tenth of a percentage point to 4.57 per cent. It was just 4.18 per cent at the start of May.
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The posted rate for a five-year closed mortgage is now lower than those for two-year, three-year or four-year mortgages. That type of inversion is unusual, as banks usually charge more for locking in rates for longer terms. |
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