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RBC drops home mortgage rate: q; B' v6 ^+ N* s1 w1 T
Sep. 5, 2006. 12:45 PM
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7 w1 w2 J# ?# B& Z" XRoyal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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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.0 T% l8 J5 A4 L' }# U
3 A: F2 Z6 S+ Y8 f; o2 n0 SAt 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.% E: s& o3 ~% g' C0 {
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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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