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转贴 Mortgage rates jump again
http://www.cbc.ca/money/story/2007/05/29/mortgages.html
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Last Updated: Tuesday, May 29, 2007 | 4:28 PM ET7 o; S9 l! p# P& [3 A
CBC News
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8 q u; f5 m+ B5 U6 XMortgage 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.8 g$ A. C8 U( E
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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./ g& y: ^+ u7 J* V8 c: E
1 q7 s0 T2 r) J& eThe 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.4 _! r2 i) E# Y+ Q
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Other banks are expected to follow with rate hikes of their own.% V Y' M8 {, ^- M/ c4 J7 e6 L) ]7 b
2 m1 P$ g: x8 LYields 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 w+ A T2 }1 t, }& m
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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. 6 H) M. ]: r, o; }# e% h0 d" q
- e2 H; x# L, a1 Z+ nThe 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. |
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