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RBC drops home mortgage rate
" G: e9 V; K* Z2 Q1 ZSep. 5, 2006. 12:45 PM3 c6 H, R7 _3 Q$ T* r
CANADIAN PRESS; m, h$ l) k" ~2 S* J2 c
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1 |6 b3 b& v7 T+ l8 c. e, WRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.0 I: D1 d: f0 `1 G4 t3 m
: v: q0 O, K. G1 ^At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.: x, {% U$ b+ I# m9 E( Y
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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