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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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9 q+ H- P2 l3 W( R' v" \Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET
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, |! P4 i6 o3 P6 ZMortgage 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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! h5 I, S6 f- X% U6 |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.% d# C& O, e0 j- J! B) H7 p: {
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Other banks are expected to follow with rate hikes of their own.
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! j" ]" ^0 V+ ?0 FYields 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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: I2 z* u r2 ?- n# Y" \; `3 z5 nThe 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. 5 d2 }- R6 i: h/ L8 X' p* e0 r; |; o
" b& o4 J; ?1 Z" N( h6 KThe 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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