 鲜花( 0)  鸡蛋( 0)
|
转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
5 V, G$ x0 i/ l4 q$ v& T ]- i5 [9 o5 S
Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET
( h5 J) m- g: `& qCBC News, z1 A, @) w0 M' ?, s9 R
. C2 c$ a( Q. z9 I s% IMortgage 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.4 ~* n& A2 L, S+ g2 ~# X- J' t; N
3 h% `+ I# X; J; i
RBC 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.
3 A, R8 s0 k& f4 L$ J2 Q9 |1 Y0 @ X: y1 g
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.
# }2 y8 `# P; A( ~4 [* L& w- c% p% {" T4 E# I
Other banks are expected to follow with rate hikes of their own.1 ^) n3 `: T, I$ t: K$ U+ `
* S5 d. _* [% t* c3 G! a1 nYields 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.1 Z6 F, c" n0 i* J# m& \$ c
9 u+ F: ^9 @5 \9 H4 P, K
The 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.
" h/ G! `. |* K6 Q
; r) \' s( F1 [7 Z, t! fThe 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. |
|