 鲜花( 0)  鸡蛋( 0)
|
RBC drops home mortgage rate: q1 h- B5 C: d* \
Sep. 5, 2006. 12:45 PM; x8 l3 V4 r! y+ s/ h3 d N, c7 s! q
CANADIAN PRESS
. r y" G9 M1 ?% V& P* J
9 E5 `8 d6 d" S
- L- N. F6 N" dRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
5 c6 s3 w/ d) n! z5 P" L( _4 x7 I+ J/ r) A3 Q! H4 F. T1 \
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.+ M$ Z% s4 A7 u" b
; S) c1 K2 Z3 {( P' N& y( R6 I" \/ U
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.8 q! m0 V1 t$ N5 k, h" v
! l# A0 \6 _; L) W$ T7 ]* e# |6 M
The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
|