 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
2 i4 q- W% _* L/ d4 ` L6 F# I- a4 ~) {
Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET4 U# d2 P+ v# i# x% @) G
CBC News! @8 s5 D- ?& c; N0 x2 U, k
@3 j7 F: A# O+ i& |/ u
Mortgage 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.) C J. U0 ]0 O) ^& s
5 A7 n: |9 X# s$ |5 S( b% [9 ERBC 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.
& q' r% ?" a: [2 s& r9 n! |' B& H+ d4 F, P+ d' ~# m
The 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.- `+ {. f, E7 p& Y
9 p. q" O. c' z# JOther banks are expected to follow with rate hikes of their own., B2 ^# R5 H7 X. x
+ | K x) l/ s1 z/ j% g
Yields 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.
2 D& \+ I, `8 n
6 N$ y) n$ U/ U% Z$ QThe 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. ( S8 ]4 L; i4 [
# N0 d, r# O$ ?/ m) h& wThe 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. |
|