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BMO, Scotiabank join RBC in quietly reducing mortgage rates * u/ }7 K! c; S" m
Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET
/ A$ Y# _5 Z; l2 rBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
: T Y( q5 V7 b& R, wNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ' U8 [1 w5 }5 A) F
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TORONTO — At least three more big enjoyedmontoncing some of their mortgage rates.
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- K9 E0 t& N. ABank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. : T( c% l- g/ n# H# E& p5 S
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) y- U7 ?. o$ N' aMost 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
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6 U) n0 o% [$ A$ pContinue reading $ W1 {3 Y& F. g' i, E
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. / J' X& L0 L/ J- D _6 s' g, L7 i, a
3 Y; ~( t. O4 m- r# ]' a) gBMO, 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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. T1 F3 m9 f2 g3 T+ D. D8 sThe 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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' R. a3 i) M8 [/ e1 cTD 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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