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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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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET; y! L" a6 J# T5 T9 X
CBC News
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Mortgage 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.! g" z* y6 \% X) `: K8 x
' K1 c. d1 y2 q. x# [) @+ N- p5 Z0 ^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.
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Other banks are expected to follow with rate hikes of their own.+ |. o5 N# e+ Y" Q* U
, S; ]" c* |+ OYields 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.0 p: B; @+ b: K: w
" @3 E1 f; Z( K4 l$ I7 q8 KThe 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. 8 W, ~3 ^9 @% u
9 f3 q$ O& w- P3 @4 eThe 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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