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RBC drops home mortgage rate
. m1 e4 I( r- i+ L. KSep. 5, 2006. 12:45 PM
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$ }9 v; x! A% Q# c W; E3 ARoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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( m, K3 N6 M( y [: nCanada'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.: x" K9 k1 h0 L2 w. U& C9 M- }
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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.
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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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