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BMO, Scotiabank join RBC in quietly reducing mortgage rates
( O$ r$ w g- W0 p0 z* L/ O* x; @Canadian Press and Financial Post Staff | January 22, 2014 7:32 AM ET # f r, ?) J3 f6 M% k
Bank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes.
( O$ V3 Y! C& S* {( \# eNational PostBank of Montreal and Scotiabank both lowered rates Tuesday although, like the Royal Bank, neither issued a news release announcing the changes. ' `6 ^) N) @+ q9 ?5 k
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5 h8 ?3 t. [; b. W' yTORONTO — At least three more big enjoyedmontoncing some of their mortgage rates. 5 g- T8 s6 k6 ^
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Bank of Montreal, Scotiabank and TD Canada Trust all lowered rates this week. Like RBC, none issued a news release announcing the changes. 8 i3 { \/ [: h0 ^% F
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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.
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8 p) N1 W/ x: g, N. ~BMO, 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. % E3 o: Y! ], l) \1 s
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The 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%. . e9 p1 |' W7 t
5 @7 F- s3 O- T, J. C1 fTD 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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