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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 ET0 a/ x, J" o, \! y6 U
CBC News
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9 j! m5 U9 Y% s4 E, XMortgage 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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! c" A7 L; p i2 n# B% d5 L3 @5 q9 p) |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.1 T5 p4 ~# `1 J2 j) }; O( x
7 c/ H# ?. B% ]" A8 u4 [) N1 T2 S% aThe 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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! `* i% R# C: I6 X9 P% [: ROther banks are expected to follow with rate hikes of their own.
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% R7 I8 W3 s$ [9 \* PYields 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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5 h1 `& `" O9 T6 J* |6 jThe 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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) O; @5 X! U# P9 a/ a' a8 f+ ? u: ?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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